BBC News - Why mortgage costs are rising despite interest rate cut
Mortgage costs are rising - with the average rate on a two-year fixed deal now at 5.5% - despite a recent cut in interest rates.
The general trend of interest rates is expected to be down, but timing can be tough for borrowers.
"Any stand out best-buy deals are not lasting very long," said Aaron Strutt, from broker Trinity Financial.
"If your mortgage is due for renewal and you are sticking with your existing lender, you need to keep an eye on the rates because the lenders don’t tend to tell borrowers when they are going up."
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