rates have gone up again, for the 14th time in a row. the bank of england has put up its main rate from 5% to 5.25%. that will mean higher mortgages for some people, but it s also good news for savers. the bank of england is using interest rate rises to fight inflation, which has slowed recently, but which is still nearly 8%. our economics correspondent andy verity reports the father of two, peter, keeping up the payments for his family s mortgages looking like anything but child s play. they bought their home under the government s help to buy scheme, but since then interest rates have risen 1a times. when his fixed rate deal expires early next year, the payments willjump. somehow we are supposed to spend less and find an extra £750 per month to pay for that. for many families it is a terrifying situation, but if you have a young family like ourselves, who have been swayed into the housing market by government who has advertised help to buy as an affordable scheme, right, w
growing at a slower rate for the past two months, but inflation remains at nearly 8%, four times higher than the official target. hannah miller has this report. for father of two peter, sorting out the family finances is proving hard. he and his wife bought their first home using the help to buy scheme. but when their mortgage comes up for renewal early next year, they ll have to find an extra £750 a month in repayments. somehow we re supposed to spend less and find £750 extra a month to pay for that. so, you know, for many families, it s a terrifying situation. if you have young families like ourselves who have been swayed into the housing market by government, whose advertised help to buy as an affordable scheme, right, when things become unaffordable, you can t simply turn around and say, that s your problem. a rise of 0.25 percentage points would take the bank of england s base rate to 5.25%, the highest since april 2008. for someone with an average tracker mortgage of
Not many customers either. horrendous. it s called a wash out, basically, when it s like this, and it s got bad weather and that, it s, you know, there s nothing you can do about it, really. we are going to three out of six traders that are normally here. some people have just taken the decision tojust not turn up because they know that the customers aren t going to be here. 0ur topsy turvy summer weather is having an impact on footfall. june was the hottest on record, driving a 3.7% monthly increase in visitors across high streets, retail parks and shopping centres the biggest increase in anyjune since 2009 when the research began. in july, another record. for the first time footfall was lower thanjune, driven by a fall in shoppers out on the high streets across our towns and cities. july really has been the perfect storm for high streets and for retail destinations, literally in many ways. not only have we had a huge amount of rain, but also we had an overtime ban
Enjoy all the netball later on. there are lots of ways to get in touch with us at bbc breakfast. still to come on breakfast we have learned lots about our ancestors and alice has written a children s book, herfirst one. ice age is her area of expertise. she has written fiction to go alongside all the science. interesting combining those two worlds. very evident in the book. we will speak to her later on. first, then use travel and weather where you are. the news. hello, good morning from bbc london. i m victoria hollins. one in 50 londoners are now homeless according to research from london councils. the cross party group used data from boroughs across london
And when the weather s grim, that s not great for our high streets. here in london s most famous shopping street, plenty are still braving the rain to shop. if i was a tourist, i guess i d be spending all my time in the shops. i m from ireland, so we have to shop in the rain all the time as well. so it s ok. we re happy. yeah, we re happy. so embrace it. that topsy turvy summer weather is having an impact on footfall. june was the hottest on record, driving a 3.7% monthly increase in visitors across high streets, retail parks and shopping centres, the biggest increase in anyjune since 2009 when the research began. injuly, another record for the first time footfall was lower thanjune, down by 0.3%, driven by a fall in shoppers out on the high streets across our towns and cities. july really has been the perfect storm for high streets and for retail destinations,