Ouch, it's going to get tough for youngsters and people stretched while buying their house, hopefully, that's the last and inflation starts to come down.

£250,000 borrowing on a variable/tracker rate will cost them approx £52pm more.

People coming out of a fixed deal from 2021, 2 years on the same size mortgage will see an average increase of approx £728pm for a new fixed deal.

The US went up the same yesterday.