Mortgage decisions made by homeowners in the UK are likely to be affected by concerns over rising interest rates .
Ben Wilkie, editor at What Mortgage – which is aimed at house buyers and borrowers looking to transfer money, among other customers – noted these fears could be a driving factor behind increasing numbers looking to remortgage.
Mr Wilkie explained current evidence suggests fixed-rates and long-term deals are getting progressively more expensive due to the ways in which banks are funding the home loans .
He was speaking in response to new figures from unbiased.co.uk, which revealed March 2012 saw remortgaging enquiries on its Find a Mortgage Adviser service reach an all-time high.
According to the findings, 37 per cent of all searches related to action of this type during the four-week period – markedly more than the 33 per cent recorded a month earlier and the 31 per cent seen in March 2011.
Mr Wilkie observed: “There is an argument from some people that if you are going to fix your rate for a reasonable amount of time, then now is not a bad time to do it.”
