Fixed rate mortgage deals are well suited to risk averse home-owners.

Fixed rate mortgage deals are starting to look more appealing to those home-owners worried about rising rates.

Many are beginning to consider longer term mortgages, recent figures for April reveal that over half of the fixed rate mortgage deals taken out were for more than 3 years. With predictions of a likely base rate rise in 2 years, home-owners are looking to lock themselves into longer term deals for added security.

The emerging trend to commit to the longer term reveals home-owners attitude has changed. Two year fixed rate mortgages and tracker deals were popular due to a low base rate, however rising funding costs are making any further mortgage rate reduction unlikely. Rates are forecast to change but in an upward direction.

Many SVR mortgage holders have already been hit by an increase and many are considering a move to a fixed rate mortgage for the sake of financial security. Longer term fixed rates such as those offered for 5 and 10 years are not the cheapest but for the risk averse they are the safest.

During times of recession home-owners generally choose to pay slightly more for a deal that is safe that will provide a level of security not offered by deals such as trackers or lenders SVRs. The advantage of a longer term fix is that it offers home-owners the certainty of knowing mortgage payments will not increase allowing them to budget with accuracy.

Deal Direct 'whole of market' brokers have access to the most competitive fixed rate mortgage deals currently on offer in the UK.

Contact us today and we will source for you the best mortgage on offer suited to your circumstance.