Why your mortage could soon rise

Adrian Holliday

Don't get complacent. Your mortgage could rise sooner than you think. For some time we've got used to the idea that UK's economic problems, twinned to Europe's wider debt calamity, meant the Bank of England would sit on interest rates more or less indefinitely. But new mortgage rates are also affected by Libor rates, now rising sharply. That's bad news for some new mortgage deals.