Will Interest Rates Rise? Predictions On 5 Year Mortgages

Five-year mortgage rates are set to rise by half a percentage point over the next six months as mortgage lenders withdraw their best rates and experts warn house prices could now start to fall.

It comes as the Bank of England raised the base rate to 0.5 per cent today - the first time in more than 10 years interest rates have gone up. Off the back of it, mortgage lenders are expected to hike rates and pull their cheapest deals, resulting in experts warning there could be a knock-on effect on house prices.

Read more: http://www.thisismoney.co.uk/money/mortgageshome/article-5042225/Mortgage-rates-rise-house-prices-fall.html#ixzz4xMfMqX00 Follow us: @MailOnline on Twitter | DailyMail on Facebook

In fact Metro Bank pre-empted the Bank of England and announced this morning that it's pulling its five-year deals at 75 per cent loan-to-value from tomorrow at 5.30pm. The latest data from Moneyfacts shows nearly half of all lenders have withdrawn at least one of their cheapest rates in the past month.

Read more: http://www.thisismoney.co.uk/money/mortgageshome/article-5042225/Mortgage-rates-rise-house-prices-fall.html#ixzz4xMfUqWHE Follow us: @MailOnline on Twitter | DailyMail on Facebook

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