Britons are increasingly looking to obtain some peace of mind in the form of borrowing they secure against their property, it has been claimed.

Tim Anson, head of residential lending at intermediary Mortgage Express, notes that many consumers have turned to fixed-rate mortgages recently amid a climate of rising interest rates.

But with the base rate having been reduced at the December meeting of the monetary policy committee, such products may no longer be as attractive.

Alternatives could include secured home loans and homeowner loans, which may avoid the two to three-year period during which exit fees are typically charged on fixed-rate mortgages.

"For most people a mortgage is the biggest financial commitment they will ever undertake," Mr Anson explains.

"And increasing numbers of borrowers have sought the certainty provided by fixed-rate deals in recent years."

With interest rates potentially on the turn, lending such as homeowner loans and secured home loans could be an increasingly attractive proposition for households.ADNFCR-1287-ID-18388475-ADNFCR

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