What the interest rate rise means for homeowners and buyers

The Bank of England has raised its base rate of interest from 1% to 1.25% as it tries to get a grip on soaring inflation. It's the fifth time in a row that the Bank has raised rates which means they are now at their highest since 2009. So, what will it mean for renters and homeowners?

On the Sky News Daily, Vanessa Baffoe speaks to Dr Miatta Fahnbulleh, chief executive of the New Economics Foundation, and Lucian Cook, head of residential research at Savills estate agents. She also talks to Siobhan Maher, who is trying to get on to the property ladder.

Producer: Soila Apparicio
Interviews producer: Madeleine Drury
Editor: Philly Beaumont