The number of people reporting concerns about the fees charged for breaking a fixed term mortgage with their bank is on the rise as mortgage rates fall.

Figures supplied by the Banking Ombudsman show there were a total of 27 complaints, inquiries and disputes in the first seven months of this year relating to early repayment charges - one more than the 26 reported in the whole of 2018.

Banks charge a break fee when a mortgage holder ends their term early to switch to a lower interest rate.

Fixed home loan rates have been falling in the wake of

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