Is a 3 year fixed rate mortgage at below 3 per cent still achievable?
The answer is yes. A 3 year fixed rate mortgage can still be found at below 3 per cent despite the fact some lenders are increasing rates.
A lot can happen in the mortgage market over 3 years and fixed rate deals are aimed at those who want to avoid mortgage rate peaks and troughs.
The Norwich and Peterborough has recently launched what it claims is its cheapest ever 3 year fixed rate mortgage at 2.99 per cent.
The Norwich and Peterborough new 3 year fixed mortgage is priced at 2.99 per cent for 75 per cent LTV and comes with a £795 fee. A lower fee option is available on a 3 year fixed term which is offered at 3.09 per cent for 75 per cent LTV with a fee of just £295.
A 2 year fixed rate is also on offer for 75 per cent LTV at a rate of 2.94 per cent, a £295 fee will be charged.
The Yorkshire Building Society also offer a 3 year fixed rate for under 3 per cent which is priced even more competitively than the Norwich and Peterborough deal. A rate of 2.94 per cent is offered for 75 per cent LTV with a mortgage arrangement fee of £995.
For those with a 30 per cent deposit the Chelsea Building Society offer a 3 year fixed deal at 2.79 per cent with a £1,895 fee and First Direct has a 3 year fix at 2.88 per cent at 65 per cent LTV with a £1,499 arrangement fee.
There are several 3 year fixed rate mortgage deals at below 3 per cent so contact Deal Direct who will compare those on offer to find the right product for you.
