The move comes as Abbey Mortgages’ Remortgage Index revealed that borrowers believe that now is the time to fix as rates are as low as ever. In May, for the first time since January 2009, the number of people planning to fix their mortgages when remortgaging has increased to 60%, up 8% from 52%.
Ricky Okey, managing director of intermediary distribution for Abbey and Alliance & Leicester, said: “With three quarters of Britons believing that the base rate won’t fall any lower, it’s not surprising that so many borrowers believe now is the time to fix. The low fixed rates currently on offer won’t be around forever though so intermediaries need to ensure their clients don’t miss the boat but take advantage of such great rates while they can.”
