Following seven consecutive Bank of England base rate rises since December interest rates have soared from 0.1% to 2.25% today.
Whilst this has immediately impacted those on variable or tracker mortgages, which mimic the base rate, recent analysis from Moneyfacts.co.uk revealed fixed rates are also soaring with the average two- and five-year fix now well above 4%.
And it would seem, this has had an impact on would-be movers. For the new study by self-storage provider, Ready Steady Store, which surveyed 1,059 homeowners across England, revealed 51% of homeowners would no longer consider moving house due to rising mortgage rates.
Click here to read the full article