Barclays notes fixed rate mortgage holders unaffected by base movement
www.moneynews.co.uk > Mortgages > Barclays notes fixed rate mortgage holders unaffected by base movement
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Barclays notes fixed rate mortgage holders unaffected by base movement
Mon 28th Feb 2011
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Andy Gray, head of mortgages at the firm, made his remarks after a survey by the company showed 71 per cent of homeowners are prepared for a base rate rise.
This proportion of customers were either on fixed rate mortgages or have a plan in place for how to cope with such a change.
"It stands to reason that with interest rates at an historic low, mortgage affordability is at its best in a decade, but it is crucial that homeowners are not complacent," noted Mr Gray.
A Barclays report has demonstrated that 15.4 per cent of homeowners' take-home income on average is used on their home finance deal.
Meanwhile, research by Paragon suggests many people are choosing to rent a property rather than buy, with the number of private renters rising from 2.4 million to 3.4 million between 2005-06 and 2009-10.
Click here for more mortgages news
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Related News : Barclays |
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