Fixed-rate mortgages cushion BOE interest-rate hike

[LONDON] The Bank of England's (BOE) interest rate hike on Thursday shouldn't be a burden to too many UK homeowners as they are cushioned by fixed mortgages, according to Bloomberg Economics. New lending on fixed rates soared above 90 percent in the first quarter of this year - that's up from only 46 per cent 10 years earlier and means that now some 60 per cent of all regulated mortgages are on fixed rates.

BLOOMBERG