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The Guardian - UK
The Guardian - UK
Business
Miles Brignall

UK interest rate rise: how will it affect you?

United Kingdom Bank of England United States Which
monopoly red house figures on a stack of pound coins atop a bed of sterling bank notes
Homeowners with a £150,000 mortgage on a variable rate will now pay £21 more a month. Photograph: Joe Giddens/PA

The Bank of England has yet again hiked interest rates, in the 12th consecutive rise since December 2021. This time the increase is 0.25 percentage points – taking the base rate to 4.5%. So what does that mean for your finances?

How will mortgage payments be affected?

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