Property News · January 12, 2017

Take the long view with a 10-year fixed-rate mortgage


Older more settled borrowers could benefit from a longer term, but watch those exit penaltiesExisting homeowners can lock into low interest rates – and sail through the Trump and Brexit years safe in the knowledge their mortgage will not rise – following the launch of a raft of attractive 10-year fixed-rate home loans.According to data provider Moneyfacts, the number of 10-year fixed-rate deals has soared from just eight three years ago to more than 120 now. In the meantime, the average interest rate on such deals has fallen from 4.2% to 3.2%. The cheapest 10-year deal, from Coventry building society, has an interest rate of just 2.59%. Continue reading…

Source : theguardian.com
Read more…Take the long view with a 10-year fixed-rate mortgage

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