The i - Mortgage rate warning as more price rises expected – and what to do now

Mortgage rates are set to rise in the coming days, experts say, as homeowners are warned to lock in deals now. Higher inflation projections and geopolitical tensions have led to more pessimistic forecasts for the Bank of England (BoE) interest rate, which currently sits at 3.75 per cent. Swap rates – which are based on long-term forecasts for the BoE’s rate and have a heavy influence on mortgage costs – have started to climb, and experts say mortgage rates will follow.

Aaron Strutt, product and communications director at brokerage Trinity Financial, told The i: “Two and five-year swap rates have risen sharply over the last few days as renewed geopolitical tensions, higher energy prices and inflation concerns have unsettled financial markets.

“So far, major high-street mortgage lenders have not changed their rates, but some of the smaller lenders have. However, if swap rates remain at their current levels, we expect lenders to start increasing at least some of their fixed-rate deals.”

Click here to read the full story £

Speak to a Trinity Financial adviser today

The mortgage market moves fast — and the right advice can make a significant difference to the rate and deal you secure. Get in touch with our team to discuss your options.

Call Trinity Financial on 020 7016 0790 to secure a fixed or tracker rate mortgage, book a consultation, or use our appointment calendar

The information contained within was correct at the time of publication but is subject to change. It is for general information purposes and is not advice.

Any links to third-party websites are provided for information and convenience purposes only. We are not responsible for the content or availability of external sites

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage