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<p>The founder of Moneysavingexpert.com said he warned Chancellor Jeremy Hunt about the threat from rising mortgage rates at a summit in December.</p>
<p>But he added: &ldquo;Now the time bomb has exploded and we&rsquo;re scrambling about what to do.&rdquo;</p>
<p>The Bank of England is expected to hike its base rate from 4.5 per cent to 4.75 per cent tomorrow in a bid to cool inflation.</p>
<p>Before the Bank began raising the rate in late 2021, it was just 0.1 per cent.</p>
<p>A 13th increase tomorrow would add &pound;32 to the monthly repayments for a typical variable-rate mortgage borrower in a &pound;270,000 home.</p>
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Mortgages time bomb 'exploded'

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