Across the UK, 9.2 million households have a mortgage.
Of these, about half are on a standard variable rate or a tracker rate, amounting to between four and five million households.
These are the people who would be most affected, as their monthly payments would increase.
Those on such variable rates tend to be older, and with relatively small outstanding mortgage balances.
According to the Nationwide, a 0.25% rate rise means someone on a £200,000 mortgage would face paying around an extra £25 a month, or about £300 a year.
Westexe Mortgages are here to help – a consultation with unlimited advice is always free without any obligation, we do not charge any upfront fee’s for this.
Contact one of our experienced advisers 24/7 on 01392 216 344, or using our Quick Contact Form:
Ref: BBC News, http://www.bbc.co.uk/news/business-41831777