Brits should choose fixed-rate mortgages

Those considering remortgaging and adding a conservatory or pool house to their property may be interested in the comments of one financial expert.

British homeowners should play it safe in terms of mortgages, rather than opting for good deals in the short-term, claimed Re-Financial Planning spokesperson Jacqueline Thornton.

Around five million property holders in the UK have chosen standard variable rate (SVR) deals, according to figures from

This statistic equates to around 27 per cent of Brits and marks a four per cent rise on last years data.

However, Ms Thornton stated people are opting for the safe choice by choosing to secure long-term fixed-rate deals.

"You would think [the number on SVR deal] would be slightly higher, but with all the upset over what has happened, for a lot of people peace of mind is more important than the money they are saving," she stated.

The expert added her firm is advising its customers to lock themselves into fixed-rate deals for longer than normal.