The Latest Breaking News from Moneyfacts

The price of a new two-year fixed mortgage is now rising faster than base interest rates, Moneyfacts data reveals

This summer is unusually awash with generous incentives to make the change but beware the catch

Rates have gone up six consecutive times, yet very few savers are benefiting, researchers find

The lowdown for different categories of borrower as interest rates continue to rise

This adds up to an extra £605.16 in mortgage costs over the course of a year.

The increase adds up to more than £600 extra in mortgage costs over the course of a year.

The Bank of England has raised its base rate by 0.5 percentage points, the largest single upward jump in 27 years. It takes the base rate to 1.75%, its highest level since 2008. This latest interest rate hike will affect personal finances and reflects the Bank’s efforts to control rampant…

Savings deals are paying decent interest rates again, and now MSE's Martin Lewis says if your bank isn't paying 1.5%, it's time to switch - and not to let rising inflation put you off

Typical amount borrowers pay rises to highest level in 13 years at 5.06% after successive interest rate rises

Across the credit card market, the average purchase APR (annual percentage rate) in June is 26.7%

But in some better news for credit card borrowers, the average length of 0% balance transfer deals has increased, according to Moneyfacts.co.uk.