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Mortgage customers face shock

Date: 28 February 2005

Mortgage customers could see their repayments rise sharply this year.

Anyone who took out a fixed rate deal two years ago is in for a shock when they switch back to their lender's standard variable rate.

At end of 2003 the base rate was as low as 3.5 per cent.

Since then rates have gradually increased and now stand at 4.75 per cent.

This means that customers coming to the end of their fixed term deals could see a big rise in their monthly repayments.

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Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.