Recent figures released by the Council of Mortgage Lenders (CML) report a 30% increase in home-owners remortgaging in to new deals ahead of any possible rise in interest rates.
During June 31,600 households changed their mortgage deals, compared to 24,300 in May.
There are conflicting reports as to when any rise might take place. The Bank of England recently warned that we could see a rise in interest rates as soon as December whereas commentators in the City say the first rise to come in 2016.
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This is not legal advice; it is intended to provide information of general interest about current legal issues.