BREAKING NEWS! Interest rates rise to 2.25% What it means for you...
Millions of households face huge increases to their mortgage costs after the Bank of England increased interest rates to 2.25%, in an effort to tame runaway inflation.
The move to 2.25% will affect around two million homeowners almost immediately.
The Bank has also warned the UK is heading for recession by the end of the year. It is the seventh consecutive rate rise since December 2021 – and the highest level in 14 years.
***Source: The Times
https://www.thetimes.co.uk/money-mentor/article/interest-rates-rise/
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