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Fixed Rate Mortgages Gaining Popularity Again

The popularity of fixed-rate mortgages is rising agin it seems, with buyers appreciating the peace of mind that they are seen to bring, one expert has recently suggested.

A representative of Mortgage Express has highlighted the number of people who favour fixed-rate repayments saying that they involve a "degree of certainty in an uncertain world".

Head of residential lending for Mortgage Express, Tim Anson commented: "For most people a mortgage is the biggest financial commitment they will ever undertake, and increasing numbers of borrowers have sought the certainty provided by fixed rate deals in recent years."

However, he went on to point out that "while interest rates remain at historically low levels borrowers do need to consider that their fixed rate deal may look uncompetitive in a few months time should rates start to fall back, as many are now predicting".

According to recent figures from the Council of Mortgage Lenders (CML), 42 per cent of lenders would buy a fixed rate mortgage.

 

 









 


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