The comments come after some smaller mortgage lenders have reportedly responded to the interest rate hike by axing their fixed-rate mortgage packages.
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But the Council of Mortgage Lenders (CML) says that it is difficult to tell what people who are planning to buy a property will choose to do when faced with this week’s financial changes.
When asked whether the latest interest rate rise had altered the kind of mortgages people are opting for, Bernard Clarke, spokesperson for CML, said: “I think it’s a bit too early to say.
“Many lenders of course still have to make their final adjustments to their products in the aftermath of the interest rate rise. I simply think it’s too early to answer that question.”
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He added that the decision of some firms to withdraw their fixed rate product was not just a feature of smaller lenders and that it often happens when interest rates change.
“It’s not unusual and larger lenders may well follow suit,” he said. 
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