Most Britons would prefer a fixed rate mortgage, says research by Fairinvestment.co.uk.
The survey finds that 57 per cent of the people considering a mortgage would choose a fixed rate over any other type of mortgage product.
It also says that 30 per cent of total respondents said they would choose a short term fixed rate with 27 per cent preferring a longer-term deal.
Of the 129 respondents, interviewed in the last week, 23 per cent said they would favour a tracker mortgage, 9 per cent a discounted mortgage and 8 per cent a variable rate deal.
Fairinvestment.co.uk director James Caldwell says: “A fixed rate deal allows homeowners the security of knowing what their monthly repayments will be and therefore to budget accordingly, safe in the knowledge that they are protected from any rises in the Bank of England base rate.
“The public are obviously wary of exposing themselves to the economy at large and are acting accordingly, with a high proportion of people opting for fixed rate mortgage deals.”