Mortgage repayments 'could jump 25%'

According to the mortgage broker, people who took out a two-year fixed rate mortgages in the second quarter of 2005 could see their monthly mortgage bill rise by up to a third if they move on to a lenders' standard variable rate (SVR). And borrowers opting to move back to a new fixed deal could be forced to stump up fees in excess of £1,000 to obtain today's leading rates. In all, up to one million people could be heading for a shock as they see deal terms finish and mortgage rates jump in 2007. The Mortgage Advice Bureau estimates between April and June 2005 alone, 178,000 people took o...