More borrowers opting for fixed rate mortgages
The number of borrowers choosing a fixed rate mortgage has increased significantly, figures from the Mortgage Advice Bureau show.
Their data points out that 19 out of 20 borrowers looking for a mortgage opted for a fixed rate, an increase on the number at the start of the year.
Aaron Strutt, product manager at Trinity Financial, says: "Many of our clients are locking into fixed rates as well, particularly as they offer incredible value for money and there are lots of them available.
"The minority of borrowers are taking term tracker mortgages or variable rates, often because they do not have any early repayment charges. These deals allow borrowers to repay the mortgage at any time without incurring a large exit fee."
If you would like help to secure a fixed rate mortgage, call us on 020 7016 0790.
March 27, 2014