Borrowers turned to fixes in March

The number of borrowers choosing fixed rate deals in March rose to its highest level in 12 months, says Mortgage Advice Bureau.

Some 78.7% of its borrowers opted for fixed rates last month, up from 73.3% in February.

Brian Murphy, head of lending at MAB, says: “Consumers are switching to fixed rates, which now account for more than three out of four transactions. This suggests many expect further rate rises and are eager to lock into attractive deals.”