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A QUARTER of people who remortgaged last month expect the base rate to rise in the next year - double the number among those who remortgaged in September.

Five-year fixed-rate products doubled in popularity too, from less than one in 10 to two in five, according to conveyancers Legal Marketing Services.

With growing speculation about a base rate rise and swap rates (what the banks pay to borrow) rising sharply since Donald Trump's US election victory, it's no wonder people are locking into rock-bottom deals.

Coventry Building Society offer a best buy 1.84 per cent five-year fix for those with hefty 50 per cent deposits. HSBC offer 2.14 per cent fee-free on 25 per cent deposits and West Brom Building Society 2.99 per cent with PS199 fee on 10 per cent deposits.

Andrew Hagger, of Moneycomms., said: "There's never been a better time to lock into a fixed rate. We could see rates rise in coming weeks."

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Publication:Daily Record (Glasgow, Scotland)
Date:Nov 17, 2016
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