Solicitors in Belfast and Northern Ireland are more likely to see clients taking out longer-term fixed rate mortgages as these deals have proved "increasingly" popular in recent years.

According to Mortgage Express, solicitors in Northern Ireland should see more clients taking long-tern fixed rate deals if the government promotes the loans enough.

Tim Anson, head of residential lending at Mortgage Express, said: "For most people a mortgage is the biggest financial commitment they will ever undertake, and increasing numbers of borrowers have sought the certainty provided by fixed rate deals in recent years.

"This is particularly true of first-time buyers, who tend to prefer the peace of mind offered by fixed deals as they get used to managing their budget, and meeting the costs of running a home for the first time.

"On the flip-side, whilst interest rates remain at historically low levels borrowers do need to consider that their fixed rate deal may look uncompetitive in a few months time should rates start to fall back, as many are now predicting."

He added: "Ultimately, the decision as to which type of deal is appropriate will rest with the customer and their advisor, taking their individual circumstances into account, and we’d expect to see well-priced fixed rates remain popular."



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