Fixed rate mortgages are becoming less and less popular as people look for the best way to pay back their home loan debts. Figures from the Council for Mortgage Lenders (CML) shows the number of people taking out such mortgages has fallen to the lowest level in 5 years making up 47 percent of the market Financial expert Ray Boulger from John Charcol predicts the popularity of fixed-rate home loans will continue to fall, as homeowners search for the best deals to help with their mortgage debt management. He says in 2009 around 80 percent of his clients were opting for a fixed-rate of interest when paying back the debt. That has shifted and now just 20 percent want to secure such a deal. Mr Boulger says his firm will be recommending tracker mortgages from July onwards.
Less paying mortgage debts at fixed-rate
April 19, 2010 By
