5 year fixed rate mortgage choice.
UK mortgage rates still remain at record lows, which means if you have a good deposit you can achieve a 5 year fixed rate mortgage at under 3%.
While choosing a 2 year fix could get you 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 term 5 year fix what are your current options?
Smaller lenders such as the Yorkshire BS currently offer competitive rates set below 3%. For 75% LTV the rate offered is 2.94% and for 65% LTV the rate offered is 2.84%. The fees charged are also reasonable too at £945 and £345 respectively.
If you have a slightly larger 40% deposit then NatWest has a sub 3% 5 year fixed rate mortgage. For 60% LTV the lender is offering a rate of 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.
Speak to an adviser today on 0800 048 8828.
