Fixed rate mortgages

• Mortgage borrowers continue to prefer the certainty of fixed mortgage rates.

• The data does show a slight retreat from fixed mortgages, down from a peak of 95.5% in September 2022.

• These high proportions are quite different from the pre-Global Financial Crisis when a much lower proportion of lending was on fixed rates.

• Earlier this week, Barclays Bank cut several of its key mortgage rates, acting ahead of the forecast Bank of England rate cut in August. Source: Dataloft by PriceHubble, Financial Conduct Authority. June 2024