Fixed-rate mortgages go up

The cost of fixed rate mortgages is going up as lenders pass on a rise in wholesale funding costs - or swap rates.

Already Britain's biggest building society, Nationwide, has increased all its fixed rate mortgage deals.

Some borrowers will see their loan rates jump by up to 0.86%.

Other lenders such as Yorkshire Building Society and the state owned Northern Rock have also re-priced some of their fixed rate deals upwards.

We speak to David Hollingworth about the latest developments.