Summary
HOMEOWNERS suffered a blow yesterday as interest rates rose to their highest level for six years - and there were warnings of a further increase this summer.
The hike from 5.25 to 5.5 per cent had been widely anticipated as the Bank of England struggles to rein in inflation and cool consumer spending.See the full content of this document
Extract
Homes Blow As Interest Rates Hit Six-Year High
However, it will hit millions of mortgage holders hard, with monthly payments on an average mortgage of GBP 100,000 now GBP 60 higher than a year ago.
A decision on whether to rais...See the full content of this document
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