Only Finance.com® - Remortgagers confused, Abbey says

Mortgages - Remortgagers 'confused', Abbey says - 20/02/2008

Widespread confusion among homeowners coming off their fixed rates has been reported by mortgage lender Abbey.

Research from Abbey Mortgages has shown that nearly one-third would 'not know' what type of loan to go for if they were forced into a decision tomorrow.

Two-thirds said that they would find it 'more difficult' to decide than before due to the current economic conditions.

The study comes at a time of flux for the mortgage market - with the Bank of England cutting interest rates and fixed and tracker deals being repriced by many lenders.

Head of Abbey Mortgages Nici Audhlam-Gardiner commented: "Depending on who you talk to there are different outlooks for the UK economy and for Bank of England base rates - while most economists agree they will go down, there is debate about how much they will fall and when.

"This uncertainty leaves homeowners with a bit of a dilemma on their hands - what is the best mortgage to go for?"

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