Faced with the uncertainty of fluctuating interest rates and a recent credit crisis, most homeowners would opt for a fixed-rate
Abbey asked a sample of homeowners what sort of deals they would plump for if they were required to re-jig their finances in the next 24 hours.
Just 18 per cent said they would take a variable or tracker product, given the unstable state of the market at present.
The majority – 79 per cent – were in favour of a fixed-rate product that would allow them to determine exactly what their payments were going to be for the fixed-rate period.
Sue Hayes, Abbey director of
The base rate currently stands at 5.75 per cent after five rate rises in a year, but many analysts now think the Bank of England may lower it in the near future as inflation comes back under control.
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