34% of UK mortgage holders would be willing to pay a higher monthly amount to fix mortgage rates and protect against any future rate increases, Legal & General Mortgages has reported.
Legal & General Mortgage’s quarterly MortgageMood study into the attitude of British homeowners and first-time buyers found that a further 11% were unsure and 55% were happy to continue paying the current monthly amount for their mortgage and risk rate hikes further along the line.
The study also showed that of those willing to pay more, 30% were willing to pay an extra £26-50, 24% an extra £1- £25, 18% an extra £100 and above, 13% between £51-£75 and 6% £70-£99 per month. The North-East (48%) Yorkshire and Humber (43%) and the South-East (38%) were the regions most happy to to pay more while the South West (23%), London (25%) and the North-West (25%) were the least willing.
Ben Thompson, managing director of Legal & General Mortgages Club, said: “It is surprising that such a high percentage are willing to pay more per month to fix when you consider we are experiencing an environment of benign low interest rates. Whilst the majority of homeowners are still happy to wait and take advantage of this
