Buyers find Long Term Fixed Rates too expensive

A study, by Professor Miles of Imperial College London, following this years' budget, emphasised the advantages of long term fixed rates.

However buyers in the U/K seem to be ignoring any advantages and are opting for short term discounts instead.

The report commissioned by the Treasury found that long term fixed rates are now less popular then short- term deals offering discounts. They are seen as being more competitive.

However it seems that the short – term fixed rates were usually priced only just above the banks own borrowing rate, with some deals actually running at a loss.

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