More homeowners ‘opting for fixed-rate deals’

Fixed-rate mortgage products are increasing in popularity, it has emerged.

This month, the Abbey Mortgages survey revealed that 35 per cent of people would pick a fixed deal, compared to 31 per cent in February.

Nici Audhlam-Gardiner, director of the company, commented: “The appetite for fixed-rate mortgages remains high.

“We expect that economic uncertainty is contributing to this trend as people try to take control over their outgoings.”

Ms Audhlam-Gardiner advised homeowners to research the market as there are various good deals to be had on fixed products.

Five-year fixed-rate mortgages appeared to be the most popular, with 12 per cent of survey respondents opting for the deals.

However, 49 per cent remained unsure of which mortgage deal to go for.

Last week, the Financial Services Authority claimed that 20 per cent of all homeowners are concerned that they will not be able to meet the costs of their mortgage payments.

© Adfero Ltd

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