Many mortgage lenders have yet to respond to the recent base rate rise, according to a financing expert.
Lisa Taylor, analyst at financing website Moneyfacts.co.uk, has claimed that almost 100 mortgage lenders across the UK have yet to confirm whether they will raise their standard variable rate in line with the interest rate decision.
However, of those financial services providers that have reacted to the Bank of England's announcement thus far, Ms Taylor suggests that the overwhelming majority have chosen to raise mortgage repayments by a quarter of a percentage point.
"All bar three of the increases have been for the full 0.25 per cent, with only Scottish Building Society opting for a smaller rise of 0.2 per cent" she said.
Last week, the Bank of England's monetary policy committee raised the base rate to 5.5 per cent.
As many mortgage holders may already be aware, this is the fourth quarter-point rate rise in less than a year - the first increase took place in August 2006.
The rise means that many mortgage holders with variable rate mortgage deals will be left facing increased monthly mortgage repayments.
Financing analyst claims 100 mortgage lenders yet to alter rates
Mortgage Quote Line
0845 108 0505
Financing analyst claims 100 mortgage lenders yet to alter rates
Fri, 18 May 2007
Recommended links
Your complete guide to mortgagesApply for a for mortgage quote today
Search for a suitable mortgage deal
UK mortgage lenders directory
How much can you afford to borrow?
Mortgage categories
What should you do when interest rates go up?
Interest rates could hit 7.5 per cent, mortgage borrowers told
Lenders may tighten mortgage criteria
| mortgages news |
|---|
| Yorkshire Building Society makes mortgage more accessible - Thu, 02 Sep 2010 |
| Lloyds TSB launches new fixed-rate mortgage - Thu, 02 Sep 2010 |
| Skipton launches new mortgage range - Wed, 01 Sep 2010 |
| More News |
Mortgage Rates by Lender 
Worried about Mortgage Repayments?
- Join our petition to Government to bail out burdened individuals, not just banks.
Free Mortgage Quote
Mortgages in Scotland
Equity Release
Switching Mortgages
Home Reversion Plans
Commercial Mortgages Arrears & CCJs?
Remortgages- Sub prime mortgages
- Arrears, CCJs
- Self certification
- Debt consolidation
Protect Your Mortgage