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Follow on Google News | 90% of Consumers Choosing Fixed Rate MortgagesThe London and Country customer monitor has indicated that over 90% of their customers have opted for fixed rate mortgages in the last 4 months.
By: Direct Traffic Media Secondly there is widespread concern that when rates start to rise, they will rise sharply and so monthly repayments on mortgages linked to Bank of England Base Rate or a lender’s SVR will increase significantly over a short period of time. Securing a good fixed rate deal now will mitigate that risk. Thirdly there is limited availability of mortgages for those with relatively small deposits (15% of house value or less) and so consumers in this situation are grabbing fixed rate mortgages whilst they still can. Finally, as house prices have fallen, consumers have found that the value of their mortgage relative to the value of their home has increased. As the best fixed rate mortgage deals are available below 75% loan to value (ltv) it is sensible for consumers to fix their mortgage rate in case their property value falls further and the best mortgage deals are no longer available to them. Potential borrowers wanting to secure a fixed rate mortgage deal can see the range of leading deals currently available at http://www.lcplc.co.uk/ Notes to editors: London and Country Mortgages Ltd is the country’s leading whole of market no-fee mortgage broker and submitted over £4bn of mortgages to over 70 lenders in 2008. For more information visit our website http://www.lcplc.co.uk L&C is a Climate Neutral company and for the last seven years has invested in climate friendly projects and tree-planting to help offset its emissions and those of its customers. L&C has won numerous awards including: Best Mortgage IFA/Adviser of the Year – Money Marketing, 2004, 2005, 2006 and 2008 Best Technology Adviser – Money Marketing 2007 Best Mortgage Broker outside London – Mortgage Strategy, 2004 and 2005 Best National Broker – Mortgage Introducer 2005, 2006 and 2007 Best Overall Broker – Mortgage Introducer 2005 Overall broker of the year – Pink Home Loans, 2006 and 2007 Top 100 company in the Sunday Times Fast Track 100 for 2004 and 2005 Business of the Year – The Bath Business Awards 2005 Growth Strategy of the Year – National Business Awards (Wales and West) 2008 Business Leader (Broker) – British Mortgage Awards - 2008 Online Mortgage IFA of the Year – Financial Adviser - 2008 Press Contacts: Richard Morea, Technical Manager Office: 01225 341312 Mobile: 07970 885168 David Hollingworth, Head of Communications Office: 01225 341211 Mobile: 07710 634044 End
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