Fixed-rate mortgages still popular among buyers

Potential buyers’ interest in fixed-rate mortgage deals remained high in February, with 81 per cent of shoppers taking them into consideration, the latest figures from Experian revealed.

The figures published by Experian suggested that shoppers are increasingly reluctant to consider tracker deals as a realistic option when buying a property, with just 9 per cent of buyers looking at them in February, compared to 13 per cent in January and 10 per cent in December.

According to Experian, the lack of interest in trackers could be due to wider uncertainty about the economy, along with the fact that rates for fixed deals remain at almost historic levels.

Commenting, Experian Marketplace and Affinity managing director Amir Goshtai said: “It’s understandable that those looking for a mortgage to secure their dream home are focusing on fixed deals, with the assurance of the same monthly payments that they provide.

“No one is quite sure what may happen to the economy in the next few months, with growing uncertainty about the impact of Brexit, particularly if there is a no deal.

“A mortgage is the biggest financial commitment someone can make, so it important they know what’s available on the market before taking the plunge.”

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