Cost of two-year fixed-rate UK mortgage rises above 6%

The cost of a two-year fixed-rate residential mortgage in the UK has risen above 6 per cent, according to financial information provider Moneyfacts.

Mortgage costs have been rising sharply over the past week, ahead of an expected increase in interest rates from the Bank of England later this week.

According to Moneyfacts, the average cost of a two-year fixed-rate deal rose from 5.98 per cent on Friday to 6.01 per cent on Monday morning….