Comment: Mortgage rate hikes

Danny Belton, Head of Lending at Mortgage Advice Bureau, commented: “We’ve become familiar with mortgage rates dropping, but rates are now creeping up again, with several lenders repricing this week. Swap rates have ticked up slightly on Bank of England interest rate expectations, and this is prompting a shift in the market. Prospective buyers and remortgagers shouldn’t panic, though. There are still deals to be had, and a handful of lenders holding rates or pricing down. If you’re buying for the first time or your mortgage is coming to an end in the next few months, your best bet is to speak to a broker, who can access the most suitable deals for your financial circumstances and get you mortgage ready.”