Tuesday

Fixed Doing Better Than Variable / Adjustable In UK

Britons are more inclined to take out fixed-rate mortgages, despite the fact that most analysts anticipate that the base rate of interest will be cut again soon. When it comes to maintaining their mortgage payments, the majority of Brits prefer fixed rate deals, according to new figures from Abbey. Borrowers are adapting to changes in the market and those plumping for the certainty of a fixed rate are choosing a product for five-years as opposed to the previously popular two and three-year options. Tracker mortgages also grew in popularity this month, with 12 per cent of respondents saying they would go for a tracker option. The research also revealed that people in Wales and the south-west are the most likely to choose tracker mortgages. Research released by Abbey showed that two-thirds of the British home owning population would find it difficult to choose their next mortgage if they were remortgaging their house tomorrow. Real Estate Market is slowing down in UK.

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