Should you insure mortgage against rate rises?

PA/PA Archive/Press Association Images

Traditionally if you thought rates were going to rise - or you couldn't afford any risk that they would - you'd quickly remortgage onto a fixed rate, and your worries would be over. Now, however, changes in mortgage rules, a drop in the value of their home or difficulties with their own circumstances mean that many cannot qualify for a new mortgage, so are stuck on whatever deal they had in the good times.

However, they do still have one other option.