Bradford & Bingley has reported that 53% of first time buyers have chosen a fixed rate mortgage in the last year, compared with only 34% in 2005. There was also an increase from 22% to 24% in the number of first time buyers who had no deposit. Their report also found that only 6% opted to buy their mortgages online, compared to 64% who preferred to meet an adviser face to face.
Our view
People are looking for security on their payments and in view of interest rates falling last year, people are also locking in to lower deals.
Let us search over 7,000 mortgages for the right mortgage for you.