More than 367,000 mortgages are expected to come to an end of their five-year fixed rate deals in the next 12 months, according to Equifax's chief data and analytics officer, and many borrowers will see their interest rocket to more than 5%. We've spoken a lot about mortgages this week, and sadly it doesn't seem the situation around rates is going to get better anytime soon. 'This frenzied market is likely to see prices continue to rise in the coming months.' 'The fact that the London market is rising in terms of average price while the cheapest area in the country is falling shows that the level of demand somewhat depends on location,' Mr Halstead added. The cheapest place was found to be the North East of England, which saw prices fall by 2% to £632 a month. The most expensive place to rent is London, with tenants paying an average of £2,039 a month - the highest amount ever recorded, according to the company's latest data.

We are again urging landlords to consider Rent Guarantee insurance as the likelihood of tenants struggling to pay their rent grows with each passing month,' said Andy Halstead, HomeLet & Let Alliance chief executive officer. 'Rental prices remain high, which brings a level of risk for both tenants and landlords.

That marks a 1.2% increase from the average £1,199 bill in April.

Average rents across the UK have gone up again, rising to £1,213 a month, according to HomeLet.

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