Which? responds to Bank of England increasing interest rates

Rocio Concha, Which? Director of Policy and Advocacy, said: "This rate rise means millions of homeowners are facing significant hikes in their monthly outgoings at a time when rising food, energy and fuel costs are already stretching household budgets. This will be a particularly tough time for mortgage prisoners, some trapped on punitive rates for years and for whom help from government and regulators is long overdue."
-ENDS-
Notes to Editors - Which? is calling on the government to ensure the protection against rising interest rates of more than 100,000 mortgage holders who continue to unfairly suffer financial hardship as a result of the 2008 financial crisis. In practice, that means: - The Financial Conduct Authority compels banking groups with inactive lenders to move their customers a new better deal - The government should introduce a charge cap for loans previously sold by UK Asset Resolution