Legal & General: 50% more borrowers are taking variable rates
www.moneynews.co.uk > Mortgages > Legal & General: 50% more borrowers are taking variable rates
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Money News |
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Legal & General: 50% more borrowers are taking variable rates
Wed 17th Sep 2008
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Key findings for the study of the third quarter of 2008 revealed that 35 per cent of residential borrowers took variable rate mortgages over the past three months, up from 24 per cent at the last quarter.
But the overall preference was still for fixed rates, with 63 per cent opting for them, down from 75 per cent at the last quarter.
Buy-to-let borrowers generally opted for variable rates, with 55 per cent taking that type of mortgage, compared to 43 per cent who chose fixed rates.
The Coventry Building Society has just announced a range of new mortgage products with fixed rates of 5.99 per cent.
Colin Franklin, head of sales at the Coventry, said they were "highly competitive" and would be welcomed by brokers.
Click here for more mortgage news.
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Related News : Legal and General |
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