The Bank of England has increased the base rate from 0.25 per cent to 0.5 per cent.
This means a typical tracker mortgage customer's monthly repayment will go up by £25.76. The typical standard variable rate customer is likely to pay £15.96 more a month.
Some 74 per cent of mortgage borrowers in the UK are on fixed-rate deals, so would only see a change in repayments when the existing term ends.
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