Fixed rates account for 77% of mortgages

Fixed rate mortgages currently account for 77% of intermediary mortgage business according to buy-to-let mortgage specialist Paragon Mortgages

Two year fixed rates continue to be the most popular length for fixed rate products accounting for 53% of the panels business although the popularity of 5 year buy-to-let products is on the rise up from 24% in the last quarter of 2013 to 28% in the first 3 months of 2014.

Interestingly, landlords are increasingly opting for repayment mortgages with 77% choosing the interest and capital option when selecting the mortgage an increase of 17% from the 2008 figure.

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