Homeowners would prefer to take out fixed-rate product if they had to re-mortgage their property amidst current economic uncertainty, new research from Abbey has claimed.

According to the firm, just 18 per cent of people would choose a tracker mortgage while 79 per cent said they would opt for a fixed-rate product, the majority of whom would prefer to sign up for a short-term agreement.

Abbey''s director of mortgages, Sue Hayes, said: "Fixed-rates have always been popular in times of uncertainty when people look to gather as much security as they can from their mortgages."

In recent months, homeowners have expired have been faced with interest rate increases and fears over the availability of lending as a result of the global credit crunch, with Michael Coogan, the director general of the Council of Mortgage Lenders, advising people to be cautious when considering their options.

"It makes sense for consumers to continue to plan for rates at or about their current levels for the foreseeable future," he said.