SCOTS are facing mortgage payment agony after the Bank of England raised interest rates yesterday.
The bank increased its base rate to 5.25 per cent from 5 per cent in an attempt to bring down inflation. This is the 14th rate increase in a row and means rates are at a 15-year high.
Those on standard rate variable mortgages and tracker mortgages are likely to see their&nbsp;monthly payments go up.
Monthly repayments will stay the same for those on fixed-rate mortgages, but will probably&nbsp;increase after re-mortgaging.
Landlords may also increase rent if their mortgage payments have risen. The bank also said it expects the UK Government to&nbsp;meet its promise to halve inflation by the end of the year.
The SNP's economy spokesperson, Stewart Hosie, yesterday blamed Brexit for the pressure being put on households.
He said: "Interest rates rising is a direct result of the UK economic collapse created by the Tories. It's clear that for as&nbsp;long as Rishi Sunak and Keir Starmer remain welded to their Brexit ideology, the UK's economy will continue to suffer."
Professor of economics at Kings Business School Martin Weale had said: "It's hard to avoid the conclusion that Brexit is one of the factors holding the economy back."
Maggie Chapman, of the Scottish Greens, said the Tories are "failing Scotland".

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{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.