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Fixed-rate mortgages 'most popular'

The most popular kind of mortgage on the market is currently the fixed-rate option, recent research from Abbey has found.

A full 79 per cent of mortgage holders in Britain, if given the choice, would switch to a fixed-rate product, the Abbey survey discovered.

Variable or tracker mortgages only appealed to 18 per cent of those surveyed, while of those who fancied a fixed-rate mortgage, 40 per cent said they would go for a two-year option.

Sue Hayes, Abbey Director of Mortgages, said: "Fixed rates have always been popular in times of uncertainty when people look to gather as much security as they can from their mortgage.

The most recent housing index from Halifax found that the average price of a house in England and Wales is currently hovering near to the £200,000 mark. Personal loans can offer a way of managing the cost of buying or running a home.

See how much you could borrow with a home loan from Lombard Direct.

© Adfero Ltd

27/09/2007 17:01:36

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