Majority Want Fixed-Rate Mortgage

Posted on February 25, 2008 by Hye

According to the poll study carried out by FairInvest.Co.Uk, 57 percent of respondents choose a fixed rate mortgage while only 30 percent prefers a short-term option. The survey also showed that 23 percent would prefer tracker mortgages, 9 percent want a discounted option, 8 percent favored a variable-rate alternative and just 3 percent opting for a stepped deal.

I, myself, also prefer a fixed-rate mortgage because I am assured that the interest of my loan will never change throughout the term of the loan. With this result, in my opinion, since majority want fixed-rate mortgage, then lending companies should be offering this service instead. Fixed-Rate Mortgage should be widely available to any lending companies, not only to some specific entities.