75% of all mortgage applications (excluding remortgages) in January 2011 were for fixed rate products, according to the latest National Mortgage Index compiled by Mortgage Advice Bureau (MAB).

In January 2010 only 45% of borrowers applied for fixed rate mortgages. However, in March, April and May of 2009 over 90% of applicants chose fixed rate deals.

Brian Murphy, head of lending at MAB, said: “Not surprisingly January saw borrowers migrate to the safety that fixed rate deals offer. With a variety of fairly negative economic news