Abbey: Government plans for funding long term fixed rate mortgages

Nici Audhlam-Gardiner, Head of Mortgages at Abbey, said: "While it's positive to see that home ownership is on the government's agenda, it is critical to ensure that initiatives align with what customers want. In recent years mortgage customers have shown a clear preference for shorter-term fixed rate mortgages over longer-term ones. Twenty-five years is a very long time in the financial world - economic circumstances and people's lives change fundamentally. Few people are willing to tie themselves into a deal for this length of time - they want more flexibility".