FTBs opting for fixed-rate mortgages - CML

Figures for February reveal 87% of first-time buyers (FTBs) chose a fixed-rate loan – up from the previous record of 84% in January and 82% in February last year. In addition, 70% of home movers took out a fixed-rate deal, compared to 67% the previous month. Overall, fixed-rate loans accounted for 76% of all loans for house purchase, returning to their highest-ever level last achieved in November 2005. The CML says fixed-rate deals remain attractively priced compared with other products – since August 2006 they have increased in price by 0.16%, while discounted, tracker and standard va...