Mortgage lender Abbey have cut the rates on their range of fixed-rate mortgages . The lender conducted research that suggested fixed-rate mortgage loans were growing in popularity, prompting the rate cut to try and attract custom.
A survey conducted by Abbey found that 56 per cent of homeowners would choose a fixed-rate home loan, whilst some 23 per cent would look for a three-year product. Abbey have cut rates on their three year, 70 per cent loan to value fixed-rate mortgage.
Abbey mortgage experts made it clear that customers were looking for the security offered by a fixed-rate mortgage . Despite the Bank of England base interest rate cut, fixed-rate loans are increasing in popularity every month.
Lenders are looking to attract borrowers with high deposits . However, mortgage options for those with low deposits continue to get slimmer, with many lenders repricing their tracker mortgages in order to avoid new
Abbey cuts fixed-rate mortgages after research
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Abbey cuts fixed-rate mortgages after research
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