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Product focus: Five year fixed rate mortgages

Product focus: Five year fixed rate mortgages

Category: Mortgages

Updated: 19/01/2012
First Published: 19/01/2012

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Fixed rate mortgages require borrowers to pay a set monthly repayment. The reassurance of a fixed repayment can be helpful when planning everyday expenses, particularly during uncertain economic times.

Here is a selection of some of the current best five year fixed rate mortgage deals.

Chelsea BS

  • This fixed rate deal offers a rate of 3.29% to 31 January 2017.
  • Available to purchase and remortgage borrowers, the maximum loan-to-value is 70% and customers can borrow between £25,001 and £1 million.
  • A fee of £1,495 is payable.
  • This product also offers the flexible option to make overpayments of up to 10% of the mortgage advance.

The Co-operative Bank

  • This five year fixed rate product from The Co-operative Bank offers purchase and remortgage customers a rate of 3.39% to 30 April 2017.
  • The maximum loan-to-value is 75% and the minimum advance is £5,000.
  • A fee of £999 is payable.
  • A host of flexible features are offered, including overpayments, underpayments and payment holidays.

Norwich & Peterborough BS

  • This product offers purchase and remortgage borrowers a rate of 3.44% for five years.
  • The maximum loan-to-value is 75% and the minimum mortgage advance is £25,001.
  • A fee of £795 is payable.
  • This deal offers the flexibility to make overpayments, underpayments and take payments holidays.
Find the best mortgage for you - Compare fixed rate mortgages

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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