Hesitant borrowers turn to fixed rate mortgages

Hesitant borrowers turn to fixed rate mortgages


Todays other news
The improved mood follows the latest Bank of England rate...
Four in five UK self-employed entrepreneurs have struggled to get...
The cost of home insurance in the UK increased by...
The lender has claimed to move away from the 'them...
L&G Mortgage Club has launched an end-to-end digital mortgage solution...


Yorkshire Building Society has seen a surge in fixed rate mortgage applications from borrowers ahead of a potential Bank of England base rate rise.

The ratio of fixed rate to variable rate mortgage applications has grown from 35:1 in August 2017 to 64:1 in October 2017.

The Bank of England’s Monetary Policy Committee decision on interest rates is set to be announced on November 2.

Simon Broadley, Senior Manager at Yorkshire Building Society, commented: “With increasing speculation that the Bank of England could trigger a rate rise this week, our data indicates borrowers are keen to secure a deal before any potential increase.”

He added: “Our findings demonstrate that borrowers value being able to lock-in to a fixed rate deal and know what their monthly payments won’t change during their initial term.”

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Introducer Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
The improved mood follows the latest Bank of England rate...
Four in five UK self-employed entrepreneurs have struggled to get...
The cost of home insurance in the UK increased by...
The lender has claimed to move away from the 'them...
A prominent agency expects anxious buyers to keep searching...
The warning comes in the latest market snapshot from Rightmove...
Recommended for you
Latest Features
The improved mood follows the latest Bank of England rate...
Four in five UK self-employed entrepreneurs have struggled to get...
The cost of home insurance in the UK increased by...
Sponsored Content
Historically second charge mortgages or secured loans as they are...
Lenders must say what they mean and mean what they...
Fraudsters attacking the conveyancing sector, successfully stealing large sums of...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here