The Sunday Times - Mortgage rates up ahead of 'double dip'
Government-backed banks raised mortgage rates and introduced stricter lending criteria last week amid concerns that this year's house-price recovery is not sustainable.
Aaron Strutt of Trinity Financial, the broker, said: "It is a very risky business for borrowers, especially first-timers, to take deals with this sort of massive margin. While this gives a current pay rate of 5.99%, this will rise to about 8.5% should interest rates rise to 3% within the next two years."
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