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5 Year Fixed Rate Mortgage

 

5 year fixed rates are in big demand as homeowners look to lock into a period of stability.

 

Click here for help from a Mortgage Arranger who can source the latest interest rate offers

 


Although longer term fixed interest rates come with higher payments then the shorter term rates, they have the added advantage of knowing that you don't have to trawl the markets for another 5 years and all the headaches that that brings.

 

Another important point is that all fixed rates come at a price, and this can be in terms of arrangement fees, reservation fees and early repayment fees, should you change your mind and try to opt out of the arrangement before the date set by the lender.

 

5 year fixed interest rates can be as low as 2.99% if you have a substantial mortgage deposit, but can be 6% or more if you are borrowing 95%

 

Santander is one of the lenders who seem prepared to offer the low 5 year fixed rates, but only if the deposit is 40% (at the time of writing this - 26th October 2012)

No doubt the Halifax will also follow suit as they have a reputation of going head to head for customer acquisition.

 

All this is good news for current homeowners but will be of little help first timers and low deposit bowwers.

 

The mortgage lenders are keen to keep their risk exposure low and so the best 5 year fixed rates are only on offer to their existing borrowers or those with big deposits to put down as security.

 

 


"where can I get a 5 year fixed rate mortgage" - here!.

 

5 year fixed rate mortgage

 

 

 

No information on this website is intended to constitute advice. This site contains a summary of the information relating to the products and is not intended to promote any specific mortgage or insurance product or provide mortgage or insurance advice. It is for information purposes only.