What the interest rate rise will mean for you
by Patrick Collinson from on (#36SVM)
The Bank of England has increased its base rate after a decade - here's how it will affect homeowners and savers
The 0.25% rise in Bank of England base rate to 0.5% may be small, but it marks the first rise in borrowing costs for a decade. Many mortgages will rise in cost, but savers will be looking forwards to better returns.
Related: 'We have a 450,000 mortgage - but we're relaxed about the interest rate rise'
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