However, borrowers are adapting to changes in the market and those plumping for the certainty of a fixed rate are choosing a product for five-years as opposed to the previously popular two and three-year options.
Abbey's monthly remortgaging tracker study showed that when faced with a snap decision, 35 per cent of borrowers would immediately pick the fixed rate.
Indeed figures from Hamptons further demonstrated that fixed rates were holding sway within the market after it found the number looking to tie themselves into a short-term variable rate has plunges from 51 per cent in January 2008 to just 29 per cent in February.
However a large proportion of remortgagors are still in dire need of professional advice, with Abbey revealing that 49 per cent are confused about the options available to them.
Nici Audhlam-Gardiner, director of Abbey Mortgages, said: “The appetite for fixed rate mortgages remains high despite widespread agreement that rates have further to fall this year.
"We expect that economic uncertainty is contributing to this trend as people try to take control over their outgoings."
The appeal of fixed rate products is strongest in the north of England, while those in Wales and the South West would put their faith in a tracker mortgage.
