Get ready for sharp rise in mortgage rates, warns Bank of England as experts predict homeowners will pay thousands more a year

Homeowners should brace themselves for sharp increases in the cost of their mortgages, the Bank of England warned yesterday.

It is a bitter blow for Britain’s 11.2million mortgage holders and comes as a direct result of the chaos in the eurozone. The crisis is driving up the cost of borrowing for high street lenders in this country – and they aim to ‘restore’ their profit margins by passing on that cost. ...Mail Online