Base rate now stands at 5.25%
There's more misery for local home owners with variable or tracker mortgages or those looking to secure new fixed rate deals.
It follows today's rise in the base rate to 5.25 per cent.
Charges are also set to increase for some loans and credit cards that don't offer fixed interest charges.
In contrast savers will benefit from the rise.
Organisation welcomes news of Milan extension
Milan Veterinary Practice will continue to offer its farm services beyond the end of the month
'Winter is coming'
Government's urging people to prepare themselves for the colder months
Isle of Man joins global review of children's online privacy
Information Commissioner examines how child-focused websites and apps handle young users' personal data
Applications open for next academic year at UCM
College invites prospective students to explore courses ahead of open evening
Isle of Man inflation eases slightly to 2.8% in October
Rising restaurant, food and tobacco prices continue to drive inflation, while energy costs help offset increases