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Over a quarter of borrowers 'take fixed-rate deals in May'
More than one in four mortgage borrowers chose to take out a fixed-rate deal during May, new research has revealed.
According to figures from advisory firm John Charcol, 26 per cent of consumers taking out homeowner loans opted for the products, which is the highest amount since October last year.
Drew Wotherspoon, director of marketing at John Charcol, suggested that the statistic shows how many people are keen to find "real safety" in a landscape dominated by both political and economical uncertainty.
He explained: "The Sword of Damocles is currently hanging right above the UK and no one can really be confident that it won't fall soon.
"For those who favour a fix, the recent addition of some new, excellent five and ten-year fixed rates to the market is good news and I would expect the increase in take-up of fixed rates to continue in the coming months."
The release of the research has come after figures from Santander suggested that owning a home is now cheaper than renting in all parts of the UK except London.