05-12-2007
Positive sentiments expressed over fixed-rate mortgages
News by Adfero for Simply Business - independent providers of business insurance, business finance, landlord insurance, buy-to-let mortgages & commercial mortgages.
Consumer interest in the fixed-rate mortgage market remains positive, it has been claimed.
Data released by the Council of Mortgage Lenders (CML), a UK-based trade association, has found that were they to choose a mortgage at this moment in time, 42 per cent of respondents would opt for a fixed-rate package.
Commissioned by the CML, the study was conducted by YouGov and based upon the responses of 2,196 individuals over the age of 18.
"In the absence of a major policy intervention from the government, the take up of long-term fixed rates looks set to remain relatively small for the foreseeable future," said Bob Pannell, head of research at the CML. "The most we are likely to see is some movement from short-term to medium-term fixed rates," he added.
Of those who would consider a mortgage deal at this present moment, the survey found that 13 per cent would opt for a variable-rate package.