Homeowners concern over mortgage repayment increase
New reports have suggested that mortgage holders are starting to worry about increases in mortgage repayments.
Moneyfacts.co.uk reports that homeowners are forecasting a rise in the base rate of interest in the near future.
Michelle Slade from Moneyfacts.co.uk commented: "Homeowners are starting to worry about the effects any base rate increase will have - so much so that the demand for fixed-rate mortgages has started to increase."
She commented further by saying that consumers should take up fixed rate deals to guard them against interest rate rises in the future.
Halifax reported that the average mortgage rate in the UK was 3.62 per cent during April 2009 which was a decrease of 47 per cent in comparison to a year earlier.
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