Mortgage cost and interest rate rise prediction
8 March 2012 Last updated at 14:01 GMT
Mortgages will start to rise - and keep rising - despite the Bank of England keeping the base rate at 0.5% for three years, said Allister Heath.
The City AM editor said the combination of the eurozone crisis and banks trying to attract savers meant there was a "mortgage time bomb" set to go off.
He warned the days of low mortgages were coming to an end and spoke of a "renormalisation" of interest rates in the UK.