The mortgage best buy tables have seen a number of changes recently, as rates increase in anticipation of a much-discussed rise in the Bank of England base rate.

Still sitting at the historic low of 0.5 percent, an upturn in the base rate could trigger a spike in the cost of borrowing. Lenders have started increasing their rates in anticipation, leading to many borrowers choosing to lock in their mortgage payments with a fixed rate.

The Bank of England base rate has remained at 0.5 percent for seven years, and after the August meeting of the Monetary Policy Committee saw a couple of members vote in favour of a rate increase, experts feel that a rise would not get a majority vote until 2015.

For borrowers concerned about the impact a potential rate increase could have on their monthly payments, they can contact a mortgage professional for further advice and guidance. Most lenders allow borrowers to sign up for a new fixed rate up to three months before their current deal ends if staying with the same provider.

Further, for those wishing to remortgage to another lender, generally, mortgage offers are valid for six months from the time of application, meaning new rates can be secured prior to the expiration of an existing deal.

Many borrowers now seek the advice of a qualified professional who has attended the relevant CeMAP courses and achieved the required level of qualification. They then know that they will receive the right level of advice, and a package that is suitable for their needs and presented in a transparent and easy-to-understand manner.

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