Figures from the newly-launched independent mortgage high street broker show a spike in one and two year fixed term applications processed in the last three months.
The increase has been driven by in part by several lenders, including Skipton which hiked its revert to rate for new customers after 1 January last week, including Halifax, Clydesdale and Yorkshire Bank, Co-op, Bank of Ireland, ING Direct, RBS and Cambridge Building Societies earlier this year.
Just Mortgages said the firm has also seen a move from buy-to-let investors towards short term, special offer fixed term deals.
David Miles, director of Just Mortgages, said: “The recent rise in the SVR from a number of lenders has seen a surge in prospective house buyers. The number choosing medium term three to five year fixed term deals are also on the rise – albeit not at the same level.
David added this trend is likely to continue as the Funding for Lending Scheme begins to take off and converts to better rates adding the only way is up for BoE rates too.
