Fixing your mortgage for 5 years.
UK mortgage rates remain at an historic low, and if you have a reasonable deposit you can lock yourself into a 5 year fix at under 3%.
Mortgage rates can be found from 1.48% however rates set so low are only for 2 year terms. If you want an increased level of security you are advised to extend the fixed term, however with a 5 year fix security comes at a price which is a higher rate.
5 year fixed rate mortgage options.
The Chelsea BS is currently offering a 5 year fix for 65% LTV at 2.94% and Yorkshire BS has what it calls a flexi option for 65% LTV at 2.99%.
For those with a smaller deposit Virgin offers a 5 year fix for 70% LTV at 3.18% which is available for both new property purchase and remortgage. For buyers with a 25% deposit the Chelsea BS has a 75% LTV deal at 3.24%.
If you are looking for a 5 year fix, then making an independent 'whole of market' comparison is essential if want to ensure to get the most competitive mortgage for your financial circumstances and deposit level.
For independent mortgage advice and a low rate mortgage call Deal Direct. We can compare the mortgage market on your behalf to find you the very best mortgage available.
Speak to us today on 0800 048 8828.
