Half new borrowers choose fixed rate mortgages

Fixed rate deals have been unpopular in 2010 due to the low bank rate but a fall in fixed rate prices helped to boost their take-up in June. Mortgage lending as a whole increased rapidly in the month, with 52,000 loans collectively worth £7.6bn advanced. This represents a 19% increase in volume and a 14% rise in value on home loans in May 2010. On the whole, Q2 saw an increase in mortgages, with 136,000 new loans together worth £19.7bn taken out. The volume and value of mortgages is 20% up on Q1 and 30% up on Q2 2009's figures. Of those new loans in Q2, 52,200 were to first-time bu...