When questioned about which type of mortgage they prefer, most Britons opt for a fixed-rate product, it has been claimed.

The Fair Investment Company conducted a survey into the mortgage choices of homeowners in the UK, which showed that 57 per cent of people would opt for a fixed-rate.

Interpreted as a result of the current economic slowdown, the company states that people are making choices based on the financial uncertainty of the economic climate.

James Caldwell, director at the Fair Investment Company, said: "A fixed-rate deal allows homeowners the security of knowing what their monthly repayments will be and therefore to budget accordingly, safe in the knowledge that they are protected from any rises in the Bank of England base rate."

The Bank of England recently cut the base rate to 5.25 per cent.

Despite the economic instability, 23 per cent of people surveyed said they would go for a tracker mortgage.

People thinking of taking out a mortgage for a new home may want to invest in a self-storage system that enables all their goods to be stored away neatly.


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