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Interest rate cuts `were not anticipated by consumers` Nearly half of young mortgage holders `need help from family` Abbey cuts mortgage rates New arrears guidance issued by CML Mortgage fraud `on the up` CML expresses concerns over sale and lease back schemes Business groups call for further rate cuts Interest rate cut `will help some struggling borrowers` Mortgage approvals `hit by continued market uncertainty` Company reduces rate of home loans Mortgage rates `to rise` Consumers `will be hit by reduced credit` `Nearly £20k` needed to secure a mortgage Borrowers urged to take advantage of good mortgage deals Mortgage lending falls in August Variable-rate mortgages `increasingly appealing to homeowners` Parents `relying on loans to cover school fees` Further mortgage rate cuts announced Remortgaging `on the rise` Mortgage lenders call for swap plan renewal

`Rosy future` for long-term fixed-rate mortgages

06/12/2007

Many mortgage consumers are looking at taking out long-term fixed-rate home loans in the near future in order to protect themselves from any financial turmoil, new research shows.

A study by YouGov and the Council of Mortgage Lenders (CML) found that 42 per cent of those asked would choose a fixed-rate mortgage deal if they were looking at the moment.

Among those choosing a fixed-term mortgage deal, the majority said they would prefer a short-term agreement but that they could see the benefits in long-term arrangements. A total of 37 per cent said that long-term mortgages would offer peace of mind.

Bob Pannell, CML head of research, said: "In the absence of a major policy intervention from the government, the take up of long-term fixed rates looks set to remain relatively small for the foreseeable future and the most we are likely to see is some movement from short-term to medium-term fixed rates."

According to the CML, gross lending in the mortgage industry has risen by 25 per cent over the last two years.

Many debts unaffected by base rate cut 09/01/2009 - Yesterday, many borrowers welcomed the Bank of England’s base rate 1.5% base rate – an historic low 08/01/2009 - Today’s base rate cut by the Bank of England’s Monetary Gas price cuts expected 07/01/2009 - Energy company Scottish Power has announced the launch of a Personal debt about £1.5 trillion 07/01/2009 - The UK’s personal debt stands at around £1.5 trillion, according