Since they were first introduced in the 1980s, fixed-rate mortgage products have risen in popularity among UK home buyers, including those choosing property in Bristol.
This is according to Halifax, which has published data about such loans to mark the fact that they have been on the market for over two decades.
The firm claimed that, when they were first made available to consumers, there was a minimal take up.
Over the years, however, their profile has grown. Indeed, figures from the Council of Mortgage Lenders (CML) have revealed that in 2009, 68 per cent of new lending was on a fixed-rate basis.
Mortgages commercial director at Halifax Stephen Noakes remarked: "Ever since their introduction 21 years ago, fixed-rate mortgages have been fundamental for homeowners looking for certainty and stability in managing their household expenses."
He went on to point out that today, people can choose their loans based on a range of factors, including type, term and rate, but this was not always the case.
