Mortgage rates could be on their way up again as a result of this week’s market turmoil, experts warned today.

The era of cheap credit may be over forever, the chief executive of Britain's Financial Services Authority has warned.

Nearly one in five mortgage lenders across the UK have failed to pass on December’s interest rate cut a month after the Bank of England reduced the cost of borrowing, figures showed today.

The Bank of England is widely expected to keep interest rates on hold today but this is unlikely to stop mortgage rates moving both up and down.