Dean Jones, head of Paaleads.com, said: "This week we have seen three providers increase their SVRs including Skipton BS by 1.45% to 4.95%, Holmesdale BS by 0.35% to 4.89% and Norwich & Peterborough BS by 0.50% to 5.35%. With SVRs having been at low levels for some time, this shift by building societies could be early warning that banks will soon follow suit and raise their SVRs."

So be careful when looking for the best deal, as it may be the best deal now, but might not look so good in a few months time. If you believe SVRs are on the increase, as they appear to be, then do think about a fixed rate deal, particularly if you are working to a tight budget at the outset.

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