Monthly repayments on a typical £100,000 loan will increase by £16 from June, pushing the cost up from £722 to £738, if the Bank's Monetary Policy Committee lifts interest rates by 0.25% as has been predicted, pushing typical mortgage rates up to 7.5%.
The cost of a home loan will have risen by a full 1% since last summer, following four interest rate hikes, costing typical borrowers some £70 monthly.
Particularly badly hit could be those who are coming off cutting-edge fixed rate loans. They could find their repayments rising sharply as their interest leaps in one go from 5% to 7.5%. Instead of paying around £580 monthly to borrow £100,000, many could find themselves struggling to find an additional £160 each month.
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