It's been little over a month since Britain saw the beginning of the Brown era in politics, but already the new government is leaving its indelible mark on people's everyday lives. And one of the most talked about ideas expressed by the new government has come from the new Chancellor, Alistair Darling, whose proposals for 25 year fixed-rate mortgages has drawn widespread attention.

According to Mr Darling, 25-year fixed rate mortgages will be beneficial to the UK housing market as they will bring more stability and attract younger buyers. However, a recent survey conducted by Abbey Mortgages has signalled doubts about the effectiveness of these plans. Abbey's research, which was carried out on a group of 1000 people, found that only 23 per cent of respondents could commit to considering a 25 year fixed rate mortgage. 54 per cent claimed that they would definitely not take out a loan of this length of time, while another 23 per cent were said to be 'unsure'.

But why exactly did over half of those surveyed claim to be so set against taking out such a mortgage? According to Abbey, 27 per cent of those who rejected the 25 year fixed-rate mortgage idea were deterred by the length of the term, while another 27 per cent thought that the future was too unpredictable to make such a long-term commitment. Additionally, a further 23 per cent claimed they believed that interest rates would soon fall to levels below that fixed by their 25-year deal and, resultantly, they would end up paying too much for their property.

Sue Hayes, director of Abbey Mortgages, commented:

"It is clear that the public don't have much of an appetite for 25-year mortgages. This is borne out by Abbey's own experience - we have launched 25-year mortgage products in the past - all of which had limited demand."

Long term fixed-rate mortgages have long been popular in Europe, but the average British homeowner is more likely to take out a with a fixed rate of interest over a period of just a few years.

Nevertheless, Abbey's own experience with 25 year fixed-rate mortgages seems to be at odds with other leading mortgage providers. Nationwide, for example, launched a 25 year fixed-rate mortgage in March 2007 but was forced to withdraw the offer after just five weeks due to unforeseen high levels of demand. Halifax has also just launched a 25 year fixed-rate deal which, at a rate of 6.39%, is somewhat pricier than the two or three year fixed-rate mortgages that have been so popular with British homeowners recently.