Fixed-rate mortgages leap in popularity

Money News

www.moneynews.co.uk > Mortgages > Fixed-rate mortgages leap in popularity

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Fixed-rate mortgages leap in popularity

After a month of "dramatically subdued" mortgage activity in January, February saw an upswing in the number of people taking out a new mortgage, with 52 per cent opting for a fixed-rate deal.

Independent mortgage experts John Charcol revealed that normally only around 33 per cent of people sign up to a fixed-rate option and it attributed the change to the current Bank of England base rate and uncertainty over the future of the UK economy.

The firm also said that borrowers could be looking to take advantage of new 'ultra-low' fixes with high fees that are being offered by First Direct and Abbey, among others.

Remortgages for buy-to-lets were also up in February compared to the previous month, although the number of people taking out new buy-to-let mortgages remained low.

Katie Tucker, technical manager for John Charcol, said: "January was made up almost entirely of the 'bread and butter' mortgages: the ones for which demand rarely falls. However, according to the Charcol Mortgage Monitor, in February, all mortgage types are more active."

Alliance and Leicester announced yesterday that it is launching five new mortgage deals, including three and five-year fixed-rate products and a new base rate tracker remortgage offer.
ADNFCR-323-ID-18499011-ADNFCR

Related News : Mortgages

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet