Fixed rates to become more popular. Says London Mortgage Broker, London Mortgage Advice. Friday, 1st May 2009

According to research recently conducted ti is revealed that fixed-rate mortgage products may become popular in the near future, thanks to the currently low base rate.

It has been found by Abbey, which conducted the research, found that the number of people who believe that the base rate has reached its lowest ebb has nearly doubled over the course of two months.

The number of people, according to the mortgage lender, holding out for a lower base rate has fallen from 17 per cent of people to seven per cent in the same period of time.

Nici Audhlam-Gardiner, director of mortgages at Abbey, explained that the bank has launched a new range of mortgages to deal with the possibility of increased demand.

Speaking to a very interested audience she added: "In the last few weeks, we have extended our range so there is something to suit every borrower whether they are remortgaging, moving house or making their first step onto the ladder."

The base rate, which is set by the Bank of England, is currently 0.5 per cent.