Saturday, March 29, 2008

Mortgages rise by £150 in one week

By Harry Wallop, Consumer Affairs Correspondent Last Updated: 1:31am GMT 29/03/2008

The cost of an average mortgage has risen so fast in recent days that borrowers are paying an extra £150 a year on their home loans compared with the start of last week, it has been disclosed.
The turmoil in the financial markets has caused banks and building societies to raise their rates on a daily basis, even though the Bank of England has cut interest rates on two occasions since December.

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