Mortgage rate rises are unlikely to happen2 July 2012
Director of My Mortgage, Catherine Hearnden, has commented that she doesn’t foresee mortgage rates increasing radically in the coming months due standard variable rates (SVRs) link to the Bank of England base rate which currently stands at 0.5%.
Ms Hearnden, commented on houseladder.co.uk that: "There are a lot of lenders who peg it to that and the [Bank of England] are not going to increase it because they can't."
Her comments were made in response to findings from the Bank of England that show mortgage providers have seen a greater demand for lending in quarter two of 2012.
Market experts also do not believe there will be much change in the demand for lending over the next few months.