Abbey National Home Loan Department Sees Five Year Fixed Rate Popularity Growing

Published: 5/25/2010

For the third month in a row the Abbey National Mortgage Index has shown a rise in the appeal of five year fixed rate mortgages to consumers.

From the survey carried out by the Abbey National there has been a 6 percent increase in those ready to go for a five year fixed rate mortgage if they were remortgaging tomorrow. The figure stands at 30 percent this month, compared with 24 percent and 12 percent in the two months previously.

A lot of the interest in these mortgages will be coming from those with existing fixed rate deals that are set to expire say the Abbey National. Having already enjoyed the security of a fixed rate mortgage these customers will take another one given the opportunity.

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