Fixed Rate Mortgage Deals to Sway Standard Rate Borrowers
Fixed Rate Mortgage Deals to Sway Standard Rate Borrowers
Sticking to a standardvariable rate or Tracker mortgage has been sensible to date with rates generally much lower than those of fixed deals. However, a look at some of the latest fixed rate deals could sway many borrowers.
A five-year deal at 3.89% has been released this week by a major lender and this has gone straight into the "best-buy" tables according to Moneyfacts. It calls for a 25% deposit, and increases to 4.49% if there's only 20% to put down.
Another top lender has slashed its two year fixed rate from 3.09% to 2.89% for those with a 30% deposit.
On the remortgage front there's a two year fixed deal on offer at 2.69% for those with 35% equity and the next best thing is a 2.89% rate suitable for those with 25% equity.
Where there's only 10% to put down, there's a 4.99% two year deal which only carries a 99 arrangement fee.
For the latest mortgage andremortgage deals, speak to awhole of market mortgage adviser. They'll select the best loan for you and ensure you can afford to repay it, taking everything into considering including what the situation will be when the fixed rate period ends. They will also make sure you have a programme in place to cover repayments should your income fall or stop for any number of reasons such as redundancy, illness or accident. Make sure these protection plans are in place in case the worse does happen.
Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it.