More than 60% of respondents were split over a potential base rate rise in Q2 (21%), Q3 (22%) and Q4 (19%), while 9% believe that base rate will be increased in March.

David Sheppard, managing director of Perception Finance, said: “Fixed-rates are creeping upwards so brokers will be warning clients that if they see a rate they like, they must act quickly or they may miss out.

“We are seeing more lenders take down good fixed rate deals as pressure mounts on the Bank of England to increase the base rate, so brokers need to make sure their clients are aware of this from the beginning.”

Sheppard forecast that, while the remortgage market will be boosted by rising fixed rates, the purchase sector could suffer as buyers’ affordability comes increasingly under pressure.

Yet, he added: “Confidence in the housing market has already had its worst hit during the recession, so I am hopeful that the recovery will continue.”

Sponsored

£2.5m paid to help broker clients benefit from greener homes

Sponsored by Halifax Intermediaries

This week’s poll asks: How many bridging loans have you arranged in the past 12 months?

Have your say here