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Fixed rates popular, says John Charcol

Nearly 65% of borrowers opted for the security of fixed rates in March, according to John Charcol’s latest Mortgage Monitor.

Released last week, the report states that demand for fixed rates ramped up 12% from 52% in February.

Katie Tucker, technical manager at John Charcol, says: “It’s a sign of the times that borrowers are choosing fixed rates although the base rate is ex-pected to be cut again this year. Consumers are prioritising security.”

The report states that in March, fixed rates were priced 0.5% lower than trackers or discounts on average be-cause LIBOR scaled dizzy heights for most of the month.

Stuart Inman, director at My Mortgage Direct, says: “We’ve noticed a trend towards fixed rates, mainly be-cause the price of trackers is higher by about 0.5%.”

Meanwhile, a recent report from the Council of Mortgage Lenders states that the take-up of fixed rates in February was the lowest since March 2005.

The CML says that the proportion of borrowers choosing fixed rate deals fell to 52% in February from 57% in January.


Treat clients like VIPs, says Expo

Clarion Events, organiser of the Mortgage Business Expo Manchester, is urging delegates to offer clients VIP status. Exhibitors at the show, to be held on May 14 and 15, can nominate clients as VIPs, giving them access to reserved seating and wireless internet facilities.

Let’s talk business

Commercial self-cert is the latest sector to be hit by the credit crunch and criteria have tightened, but brokers still have an important role, says Laura Howard

HBOS to review proc fees

HBOS is reviewing its proc fee levels, with Halifax’s set to tumble by 0.03% and BM Solutions’ by 0.05%.

Skipton takes shares in IFA

Skipton has acquired a 75% shareholding in Thomson Shepherd, the IFA that trades as Coggans Wood in Edinburgh.

How to balance bottom-up with top-down research in constructing multi-asset credit portfolios

In this short video, Azhar Hussain, head of global high yield at Royal London Asset Management, explains how his team balance bottom-up with top-down research in constructing multi-asset credit portfolios. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well as up […]


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