Homeowners have been warned to plan the remortgaging of their property six months in advance by an independent broker.
According to John Charcol, those coming to the end of their fixed-rate mortgage should act sooner rather than later to secure a good deal as the mortgage market is beginning to "freeze up".
The company said that rapid deterioration in the mortgage market and the reluctance of financial institutions to lend to each other may push up prices, making affixed-rate mortgages are more tempting option.
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