Product focus: Five year fixed rate mortgages - Mortgages - News - Moneyfacts

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

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

MONEYFACTS ARCHIVE
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 It is now over 6 months old so the content may be out of date.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 Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Building societies winning the mortgage rate war

Competition is fierce in the mortgage market, and borrowers may assume that the rates from banks will be significantly lower than those elsewhere. However, things aren’t as they seem, as building societies are the winners of the mortgage rate war.

Homemover numbers fall for first time since 2011

The mortgage market enjoyed a record year in 2016, so it may come as a surprise to hear that the number of people moving home has fallen for the first time in five years, with fewer apparently taking advantage of the market.

2016: the best year for remortgaging since 2009

Remortgaging has certainly seen a surge in activity of late, helped in no small part by the dramatic drop in mortgage rates over the last year, so much so that 2016 as a whole proved to be the best year for the sector since 2009.
 
Close