The Times - Short-term mortgages all the rage as we wait for rates to fall
Homeowners are opting for shorter, higher-rate mortgage deals in the hope that interest rates will have fallen by the time they come to remortgage.
Some 14 per cent of new mortgage borrowers took a variable rate in March, according to the trade association UK Finance, the highest proportion since August 2013.
Aaron Strutt from the mortgage broker Trinity Financial told The Times: “Clients are taking two-year fixes and deals with no early repayment charges, even though they could get lower monthly repayments if they locked in for five years.”
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