That was according to Paragon Mortgages’ Financial Advisors Confidence Tracking Index, which consulted 200 intermediaries for the study.
Nine in 10 (89%) mortgages recommended by brokers were fixed rates in the first quarter of this year – a historic high.
That was according to Paragon Mortgages’ Financial Advisors Confidence Tracking Index, which consulted 200 intermediaries for the study.
Mortgages fixed for two years made up 48% of the market, down from 53% in Q4 2016, followed by 5-year fixes at 34%, up from 31% three months before.
John Heron, managing director of Paragon Mortgages, said: “It’s clear to see that the benefit of certainty at such low rates is continuing to drive up the popularity of fixed rate mortgages – particularly 5-year fixed terms, which gained further ground in Q1 2017.”
