Informed
Joined: 23 Mar 2009
Posts: 12
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| Posted: Mon Mar 23, 2009 2:52 pm Post subject: Fixed deals proving popular |
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A recent report by Legal & General Mortgage Club, the fifth in their "Mortgage Purchase Index" series, has shown that 72% of residential mortgage borrowers are now opting for a fixed rate deal. This is up from 68% in Q4 2008.
It also highlights that Buy to Let mortgage borrowers are also now favouring fixed deals, with 68% now choosing to fix, up from 43% in Q4 2008.
It seems the recent rate cuts and drops in standard variable rates have lead to people choosing to overpay on their mortgage, with average loan to values on residential mortgages down to 58%, down from 66%. |
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