Fixed-rate mortgages 'may become popular'
www.moneynews.co.uk > Mortgages > Fixed-rate mortgages 'may become popular'
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Money News |
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Fixed-rate mortgages 'may become popular'
Thu 30th Apr 2009
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Abbey, which conducted the research, found that the number of people who believe that the base rate has reached its lowest ebb has nearly doubled over the course of two months.
According to the mortgage lender, the number of people holding out for a lower base rate has fallen from 17 per cent of people to seven per cent in the same period of time.
Nici Audhlam-Gardiner, director of mortgages at Abbey, explained that the bank has launched a new range of mortgages to deal with the possibility of increased demand.
She added: "In the last few weeks, we have extended our range so there is something to suit every borrower whether they are remortgaging, moving house or making their first step onto the ladder."
The base rate, which is set by the Bank of England, is currently 0.5 per cent.
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