Economic uncertainty boosts fixed-rate popularity

A survey carried out by Fairinvestment.co.uk found 57% of people would choose a fixed rate mortgage when their current mortgage deal expires. Of those saying they would prefer a fixed rate deal, 30% favoured a short-term fixed rate, while 27% preferred long-term options. Payment certainty is the key reason for choosing fixed-rates, according to James Caldwell, director of Fairinvestment.co.uk. He says: “A fixed rate deal allows homeowners the security of knowing what their monthly repayments will be and therefore to budget accordingly, safe in the knowledge that they are protected from an...