Some 62 per cent of all UK borrowers in the month of October opted for fixed-rate mortgages, according to new research.
This in an increase from 59 per cent in the previous month, while the number of fixed-rate loans approved for mortgage purposes rose from 109,100 to 124,100 in October, figures from the Council of Mortgage Lenders have revealed.
Additionally, the month also saw more borrowers find a remortgage, with a 13 per cent increase recorded over the period.
Remortgaging represented 36 per cent of all mortgage activity - a rise from 33 per cent in September, which was the lowest share over a four-year period.
Michael Coogan, director general of the Council of Mortgage Lenders, commented: "It is encouraging that many borrowers are planning ahead financially and locking themselves into a period of certainty about their monthly mortgage repayments by taking out a fixed-rate product."
He added that many borrowers acted in a "shrewd" manner, as the Bank of England's decision to raise the base rate in November was widely expected.
Mehrdad Yousefi, the head of intermediary mortgages at Alliance and Leicester, recently claimed that fixed-rate mortgages could suit "cautious" borrowers.
Fixed-rate mortgages make a comeback, study shows
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Fixed-rate mortgages make a comeback, study shows
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