Gib Bank reports good uptake of fixed interest mortgage, with Bank of England rate hike expected to continue 

Gibraltar International Bank has reported quite a good take up of its three year fixed interest rate mortgage last year.

Interest rates are now at 4.25%. The bank offered its customers a fixed rate of exactly this.

GIB's Gerald Rodriguez thinks people understood the value of having fixed expenses.

The hope was that interest rates would stop rising around now, however, new numbers issued today are predicting the upward trend could continue.

Mr Rodriguez explained to Shelina Assomull why this was.