Page 5 - Simon Gammon News Today

Millions of homeowners face paying several hundred pounds more each year on their mortgages after the Bank of England increased its interest rate to 4.5 per cent.

The Bank of England has announced another rise in interest rates to to 4.5% - the 12th increase in a row.

Martin Lewis has told LBC that the negative impact of the latest interest rate rise will be "limited" for most mortgage holders, because future rate drops are already priced into new fixed deals.

Homeowners on tracker mortgages could see their annual bills increase by £5,008 a year following the Bank of England's twelfth consecutive rate rise on Gammon told City A.M what option to choose is "personal " for each buyer but largely lies within how much the individual believes “interest rates will fall within the next two years”. 

Research finds that measuring sugar in blood could help find the cancer when it is asymptomatic.

However, total mortgage lending plummeted from £2billion to £0.7billion, the lowest level since April 2016, as mortgage rates remain significantly higher than a year ago.

Some 35,600 mortgages were approved for house purchase, which was the lowest total since May 2020, according to Bank of England figures.

Credit card applications also went up by 17% as household budgets were squeezed, according to data from the Bank of England.

Bank of England survey shows lenders expect steep rise in borrowers failing to make monthly repayments

Credit card applications also went up by 17% as household budgets were squeezed, according to data from the Bank of England.