The number of borrowers taking out fixed-rate mortgages is at its highest level on record, according to Mortgage Trust.

Since September 2006, fixed rate mortgages have grown to make up over 60% of the market, up from 48% before the monetary policy committee began their spate of rate hikes.
John Heron of the Paragon Group said: “Our research also shows that an even higher proportion of landlords have been taking out fixed-rate loans. Around 78% of landlords have been opting for fixed rate mortgages in recent months. As rates have started to rise, landlords have sought to insure that they remain in a financially stable position.”