Potential homeowners up can down the country are being advised to act while the going is good and take the step onto or up the property ladder.

Potential homeowners up can down the country are being advised to act while the going is good and take the step onto or up the property ladder.

With the Bank of England monetary policy committee declaring that the base rate of interest is to remain the same for the ninth consecutive month, it would appear now is a period of stability for those thinking of getting a mortgage.

"Homeowners and prospective purchasers should take advantage of competitive fixed-rate and discounted mortgage products in the high street, as it is likely that short-term fixed rates could be higher in the coming months," said Alliance & Leicester's Mehrdad Yousefi.

Mr Yousefi says this as some economist are now predicting that any rate change in the coming months will be up rather than down from the current 4.5 per cent that the base rate has been fixed on since August 2005.

"Money markets are currently pricing in the next movement in interest rates as upwards," Mr Yousefi said.

The Bank of England's inflation report is due next Wednesday, May 10th.