Mortgage holders brace for ‘painful rise’ after interest rate hike

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Mortgage holders brace for ‘painful rise’ after interest rate hike

Mortgage holders are bracing for a “painful rise” in payments after the Bank of England tightened monetary policy for the first time since mid-2023. The Bank’s Monetary Policy Committee raised interest rates to four per cent in a bid to stop inflation spiralling out of control amid the ongoing conflict in the Middle East. But [...]