Consumers are playing it safe when taking out a
The Council of
According to CML statistics, a record number of first-time buyers opted for a fixed-rate
Around 90 per cent of all
Home-movers, as opposed to first-time buyers, are also opting for fixed-rate
A CML spokesman said the trend reflects a desire for surety on the part of the borrower because “what it allows first time buyers or home movers to do is actually know exactly how much they’re paying out each month on their
“It gives them that payment certainty,” he added.
The Bank of England elected not to raise the interest rate again in August, but many analysts expect to see another rise before the end of the year.
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