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Mortgage Advice Bureau (Holdings) Plc

Could fixing for a decade become the norm for remortgaging?

• 60% of homeowners weren’t aware that it was possible to choose a ten-year fixed-rate mortgage
• More than a third of borrowers would consider fixing their mortgage for ten years
• 68% feel that fixing their mortgage for ten years would give them financial peace of mind

Latest consumer research* from Mortgage Advice Bureau highlights the increasing number of homeowners opting for a ten-year fixed-rate mortgage in the pursuit of longer term financial security.

In the recent poll, over a third of homeowners with a mortgage said they would consider fixing their mortgage for a decade, with the top reasons to fix for longer including the peace of mind gained by knowing what their monthly expenditure would be (68%) and a belief that interest rates will go up, a view shared by over half (56%) of those surveyed.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.