The amount charged for fixed-rate mortgages has hit a six-month high, new figures from Moneyfacts show.
It revealed that two, three and five-year fixed deals are now the highest they have been since summer 2010.
Spokesperson for the group Michelle Slade commented: "The majority of lenders have increased rates since the start of the year, with some mortgage deals seeing rate rises of more than 0.5 per cent."
She emphasised that customers who have delayed taking out a fixed-rate mortgage will now see themselves having to fork out for higher monthly payments.
Furthermore, Ms Slade predicted that rates would continue to escalate, especially as swap rates continue on the upward slope.
Timothy Lambert, head of consulting at Ducalian, recently called on the mortgage industry to do more to assist first-time buyers, after fears emerged that the sector could stagnate.
He said that banks are now typically offering 30 rather than 25-year deals to customers. |
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