VARIABLE rate mortgage customers should prepare for a rise in interest rates, according to local estate agents Taylors, which advises those due to re-mortgage soon to quickly take advantage of cheap fixed rate deals.

Homeowners have been taking advantage of the lowest interest rates since November 2008, but with inflation hitting an 18-month high, the Bank of England may well increase the base rate.

A recent report by Countrywide, the UK's largest mortgage broker, revealed that 72 per cent of buyers in June opted for fixed rate mortgages as they look to shield themselves from future interest rate rises.

The findings are based on the activities of more than 700 Countrywide mortgage consultants, including consultants based in Taylors' offices throughout the West.

Countrywide's Chris Sim said: "We've launched a number of exclusive mortgage products with fixed rates to give the growing number of home movers some certainty for the future.

"Overall, we've seen the total number of new mortgage products available increase by 193 per cent since June 2009. This is fantastic news for customers and improves the choice of rates, deposits and repayment options to suit all budgets.

"We offer a competitive range of exclusive rates that you won't find elsewhere on the high street."

Countrywide Mortgage Services has unveiled a new range of exclusive mortgage products for home movers and buy-to-let customers, and a groundbreaking Countrywide Rewards scheme.

This offers new mortgage customers a range of discount vouchers from leading retailers, cinema tickets and spa days, while the top rewards include city breaks, free flights and holidays to a choice of 30 worldwide destinations.

To find out more about Countrywide Rewards and the best mortgage rates available to you, speak to your local Countrywide Mortgage Consultant based in Taylors offices in the South West.

Countrywide Mortgage Services does not charge for its advice and recommendation service call 0800 988 7925 to make an appointment or visit www.countrywidemortgages. co.uk.