Choose a 5 year fixed rate for mortgage security.
UK mortgage rates remain low but with predictions of rate increases you might want to consider reviewing cheap 5 year fixed rate deals.
While rates remain at a low level you could get a longer term mortgage at under 3%.
While opting for a short term 2 year fix could mean achieving a rate as low as 1.85% you have a lower level of security should interest rates rise.
If you are looking for a longer fix consider all lenders, as smaller building societies are offering highly competitive deals.
Lenders such as the Yorkshire BS offer 5 year rates starting from just under 3%. For 75% LTV the rate is 2.94% and for 65% LTV the rate is 2.84%. The fees on these deals are set at £945 and £345 respectively.
If you have a slightly larger deposit of 40% then NatWest has a 5 year fixed rate mortgage at 2.88% with a £995 fee. If you are a remortgaging customer then you will get a free valuation and free legals.
Barclays offers a 5 year fix for 60% LTV at 2.95% with fees of £999 or £499 if you are a Barclays current account holder.
If you are looking for a 5 year fixed rate mortgage a 'whole of market' comparison is vital if you are to get the most competitive deal for your circumstances.
For a personalised low rate quote and impartial mortgage advice call Deal Direct.
Call and speak to an adviser on 0800 048 8828, let us find you a competitive mortgage.
