Rate rise mortgage rush

HOMEOWNERS rushed to lock in a cheap mortgage deal before the Bank of England raised interest rates last month.

Bank figures show 51,593 remortgages were agreed in October, the most in a month since October 2008. The rate rose from 0.25pc to 0.5pc on November 2.

Lea Karasavvas, of Prolific Mortgage Finance, said: ‘Homeowners were falling over themselves to remortgage as the rhetoric from the Bank of England reached fever pitch.’