With interest rates threatening to rise due to soaring GDP & RPI it's no wonder lenders are trying to entice house buyers and remortgages into new medium to long term fix rate deals. However caution should be taken when researching mortgages, it's not just the initial rate figure which makes up the mortgage product, their are many facets to a mortgage including the lenders fees (arrangement, booking, valuation), penalty charged or early repayment charges and when they apply. Whether the mortgage is suitable to you and your circumstances, your loan to value, income, employment status, type of property etc etc.
However, taking these into consideration one of the main lenders have come up with a market leading 5 year fix rate deal at 3.89% with a £900 (£400 for first time buyers) arrangement fee which may be added to the loan if required. plus a non refundable £99 booking fee to secure the rate. Many lenders are charging around the £1000 mark in fees for fix rates and to obtain a fix rate for 5 years at such low levels is well worth it.
The fix rate reverts to the lenders standard variable after the 5 years which is currently 3.99% and the overall cost for comparison is 4.1% APR.
To find out more about this exclusive rate then visit our site and complete your details: -
Market leading 5 year fix rate
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