Mixed economic messages are confusing a large proportion of borrowers according to the lender, with over 33 per cent admitting they would not know which type of deal to go for if they had to remortgage tomorrow, as well as the term to tie themselves into.
“Depending on who you talk to there are different outlooks for the UK economy and for Bank of England base rates," said Nici Audhlam-Gardiner, head of Abbey Mortgages.
"While most economists agree interest rates will go down, there is debate about how much they will fall and when. This uncertainty leaves homeowners with a bit of a dilemma on their hands."
Most popular right now is a two-year fix, followed by a five-year option, however this is not the right decision for all borrowers, meaning that the availability of good, independent advice takes on far greater importance.
