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Sharp fall in fixed-rate mortgage take up

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  • Sharp fall in fixed-rate mortgage take up

    Research from brokers John Charcol has unveiled a significant decline over the last year in the amount of homebuyers taking out fixed-rate mortgages. At the start of last year, fixed-rate deals made up around 69% of the market following sustained interest rate increases by the Bank of England as homeowners tried to protect themselves from [...]

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    Whilst fixed rates are of course more expensive at present they should always be viewed as a medium to long term budgeting measure with the comfort of knowing what you will be paying and that you can afford and budget for it. No-one has a crystal ball least of all mortgage brokers and if the benefits of fixed rate mortgages are properly explained then there is no reason why the take up should reduce significantly.
    Gift Wrapped Mortgages

    Independent Mortgage Broker