Increasing numbers of householders are finding themselves unable to afford the cost of their bills - as the effects of the latest Bank of England rate rise hit home, a new report reveals.

A study from MoneyExpert shows that over 7.4 million household bill payments - ranging from gas to mobile phones, insurance and council tax, have been missed in the last six months.

Council tax bills are the most likely to be missed with around 1.85 million being missed or going unpaid during the last six months.

"It is clear that many of us are under financial pressure," Sean Gardner, Chief Executive of MoneyExpert.com, commented.

"The Bank of England has increased interest rates twice this year with the threat of a third rise during the summer.

"It was inevitable that once interest rates started rising that something had to give and it is worrying to find that people are missing basic household bills.

"Missing bills can lead to serious consequences from losing the service to being taken to court. We'd urge anyone who is struggling financially to take advice on how to cut their monthly expenditure."

Despite cuts from power suppliers, around three per cent of Brits have missed gas and electricity bill payments, the study showed.