Barclays now offers 7 year fixed rate mortgages from 2.99%
Existing Barclays mortgage holders can now lock into a new low rate 7 year fixed rate mortgage. For risk adverse customers this might represent a good deal.
For mortgage-holders with 25% equity, the lender is offering a 75% LTV deal at 2.99% with a £999 fee. For those wanting a fee free deal the rate for the same LTV level is 3.29%.
This deal is only on offer to Barclays customers, however it illustrates the point that both home buyers and remortgaging customers should broaden their search and consider more than just standard 2, 3 and 5 year fixes.
Longer term fixes are available from serval lenders in the market, if you would like to compare mortgage offers call 0800 048 8828.
When going for a longer term fix think about early redemption charges. Most mortgages lock you in to the period agreed with an ERC, should you want to remortgage and pay off the loan before the time agreed there will be a penalty to pay.
If you would like to compare rates for longer term fixes against rates for 2 to 5 year term deals, speak to a Deal Direct adviser today.
We are ‘whole of market and so can search through every lenders’ range. We can compare all products at your deposit level to ensure you end up with the best mortgage for your financial needs.
For advice and a low rate quote call us today.
0800 048 8828
