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

News

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 It is now over 6 months old so the content may be out of date.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 Any products featured may be withdrawn by their provider or changed at any time.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

The time is now for remortgaging

Mortgage borrowers have been urged to review their existing deals after it was revealed that remortgage opportunities continue to flourish in the post-Brexit vote world.

Goodbye to the Help to Buy Guarantee

On 31 December, phase two of the Help to Buy initiative will be withdrawn from the market. It’s certainly done wonders for the high loan-to-value sector, so we thought we’d take a closer look at the significance of the scheme and the effect it’s had.

Remortgaging bounces back

Remortgaging has been enjoying a welcome boost in recent months, despite September’s slight dip, with many homeowners capitalising on record low mortgage rates to boost their finances.
 
Close