Tag: interest rate

How might rising interest rates affect your mortgage?

The Bank of England has raised interest rates and warned further hikes are likely in the coming months. This will mean bigger bills for some homeowners. On 22 September 2022, the Bank of England raised interest rates from 1.75% to 2.25% - the seventh hike since December 2021 - in a bid to combat soaring [...]

How the interest rate rise affects you

Everyone in the UK will be affected by rising prices - from a higher gas bill, to harder choices during the grocery shop. The idea of raising interest rates is to keep those current and predicted price rises, measured by the rate of inflation, under control. That is exactly what policymakers at the Bank of [...]

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