At a time when families are experiencing the biggest squeeze on their incomes for a generation millions of families now face rising mortgage interest rates that will add around £300 a year to the cost of a £100,000 home loan.
Both the RBS-Natwest Group and the Halifax have pushed up their rates, despite the Bank of England maintaining its base rate at just 0.5 per cent, and other banks and building societies could follow suit.
This rise, along with recent childcare cost increases and record high prices for petrol & diesel, could not come at a worse time for hard-pressed families who are struggling to make ends meet.
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