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Why are five year fixed rate mortgages so popular?

Why are five year fixed rate mortgages so popular?

Fixed rate mortgages have gained consistently in popularity since 2010. Today, nine out of ten mortgage customers opt for a fixed rate mortgage and, within this, an increasing proportion of customers now select mortgage products with an initial fixed rate period of five years or more. We asked mortgage intermediaries why longer term, initial fixed rate products have become so popular. Here's what they said:

FACT Infographic Q1 2019

For more insight into the UK mortgage market, take a look at our regular, Financial Adviser Tracking Confidence Tracking Index (FACT) survey reports.

26 April 2019

Paragon Banking Group PLC.  Registered in England number 2336032.  Registered office 51 Homer Road, Solihull, West Midlands  B91 3QJ.