There are many people out there whose fixed rate has ended. BCC (before credit crunch), at the end of the fixed rate term, the trend was to remortgage onto another fixed rate for a number of years.
ACC (after credit crunch), now that many lender’s interest rates are lower than the fixed rates, many of my clients are, quite understandably, sticking with their lender on the standard variable rate (SVR).
Similarly, there are many people on tracker mortgages, that have seen a significant decrease in their mortgage payments.
The question I am curious to know is what are people doing with the extra money that has been created by the cheaper monthly mortgage payments?
