Homeowners urged to act now to avoid mortgage repayment hikes

Mortgage holders have been urged to act now if their interest rate deal is nearing its end (PA)

Mortgage holders on either variable or fixed rates with less than two years to run need to act now to avoid challenging repayment hikes, experts have warned.

They say people rolling out of historic low fixed-term contracts in the next few years will face immediate rate increases of more than 1%.