flanders and claire barrett. we have got stephanie flanders from bloomberg economics on the podcast. hello. hello, hello. and another friend of the podcast, claer barrett, from the financial times. thank you for having me. i m glad you re here, so, interest rates at 3%, stephanie. gives a sense of how that feeds into real lives. in gives a sense of how that feeds into real lives. into real lives. in terms of money that into real lives. in terms of money that is into real lives. in terms of money that is about - into real lives. in terms of money that is about 2 - into real lives. in terms of. money that is about 2 million people in the country who are on a variable rate the biggest since the 80s or 90s depending on who you believe. and for somebody with the average size mortgage, that is going to add nearly £80 a month or £1000 a year, just from today s rise, but of course, that is the eighth rise we have had in succession from the bank of england. there is more pain t
2 million people in this country who are on a variable rate mortgage who will immediately see the impact of that 0.75% rise we have had today. the biggest since the 80s or 90s depending on who you believe. and for somebody with the average size mortgage, just from today s rise, but of course, that s the eighth rise we have had in succession from the bank of england. there s more pain to come for around 2 million people you roll off their mortgage fixed rates next year. they might see an even bigger rise because they re on a really low rate now and it ll probably be higher than it is next year, so again, somebody with the average size mortgage, they can expect to pay around £250 more per month, or £3000 a year, and that s based on a mortgage of 130,000 so obviously if you have a bigger mortgage, you will have bigger repayments. trying to work out from listening to the various contributions we ve heard today, whether it be andrew bailey at the bank of england orjeremy hunt
Financial journalist Claer Barrett, appeared on Lorraine today to discuss how you can track down missing pensions, which could be worth thousands of pounds.