Self Employed Mortgage Advisors
Nationwide: £100000
Commercial Finance Brokers Nationwide
City of London: £50000
House price search
Enter your postcode here to find out how much your property is worth, based on Land Registry data.
RSS Feed
Daily news archive
Fixed rates gather pace once more
27 September, 2007
In such an uncertain market, Abbey has found that remortgagers would opt for fixes over trackers.
Nearly four out of five (79 per cent) homeowners, said that if they had to re-mortgage tomorrow, they would readily choose a fixed rate mortgage over a tracker - despite the fact that they could be tied in if interest rates start to drop
Uncertainty in the market means only 18 per cent would opt for a variable or tracker mortgage, while the majority of those that would take out a fixed rate would opt for a short term two year fixed (40 per cent).
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. We reduced our fixed rates on 18 September - so it is a good time to take out a fixed rate mortgage with Abbey.”
Currently the cheapest two year fixes from Abbey are available from a broker and are 5.69 per cent with a £1,499 fee or 6.29 per cent with no fee.