An 8% increase would cost an extra £576 on a £150,000 mortgage per year, while a 5% increase costs £342 more.
The cost of 90% loan-to-value 2-year trackers and fixes have gone up by 8 and 5% in the past three months according to Mortgage Brain data.
An 8% increase would cost an extra £576 on a £150,000 mortgage per year, while a 5% increase costs £342 more.
Mark Lofthouse, chief executive of Mortgage Brain, said: “It’s perhaps still a little too early to predict that mortgage rates are rising and that this trend will continue.
“However, our latest analysis is starting to show signs that we may finally be moving away from the long period of record lows in terms of mortgage rates and costs to a period of stability, or potentially, rises.
“While our long-term analysis still shows that borrowers can benefit from a number of savings, with healthy cost reductions and low rates still available, there has been a clear shift over the past three months with cost rises across the majority of products analysed.”
Mortgage rates aren’t rising all over however, as the lowest 5-year tracker to 60% LTV is now 18% lower than three months ago.
