December was the best month so far for Hybrid mortgages, John Charcol has reported.

Last month over 10% of John Charcol borrowers opted to take out what Simon Collins, technical manager at John Charcol, calls one of the most innovative products of the last decade, namely the ‘hybrid mortgage’.

He said: “Borrowers have been reluctant to take longer term fixed rates when they know that variable rates are likely to remain low for the next couple of years at least. Yet at the same time they are anxious over longer term payment security