18
Aug
Homeowners 'choosing to secure long-term fixed-rate deals'
Homeowners are favouring long-term fixed-rate deals rather than
special offers that could involve a greater risk, one mortgage
expert has asserted.
Jacqueline Thornton, financial planner at Re-Financial Planning,
which was established in 1999 to provide independent, fee-based
advice, said that many people are on standard variable rate (SVR)
mortgages in the UK in order to have "peace of mind".
Her comments follow the recent publication of new figures from
Unbiased.co.uk, which show that almost five million British
citizens - 27 per cent of homeowners - are currently on a SVR
mortgage.
"You would think it would be slightly higher, but with all the
upset over what has happened, for a lot of people peace of mind is
more important than the money they are saving," said Ms
Thornton.
"They will go for fixed-rate," she added.
The news comes after John Charcol reported last month that 83 per
cent of the brokers' clients opted for a fixed-rate mortgage in
June 2009.
