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: 17/12/2012
First Published: 22/03/2011

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 It is now over 6 months old so the content may be out of date.

The number of higher loan-to-value mortgage products has risen over the past year, which should please first-time buyers looking to step onto the property ladder. Here is a selection of some of the best five year fixed rate mortgages which allow customers to borrow up to 85% of the property value.

Coventry Building Society

  • This product offers a rate of 5.79% fixed to 31.3.16.
  • The maximum loan-to-value is 85% and an arrangement fee of £499 is payable.
  • There is also the incentive of a free valuation up to £670.
  • Borrowers can make overpayments if they wish, of up to 5% of the outstanding balance.
Skipton Building Society
  • This deal from Skipton Building Society offers a fixed rate of 5.89% to 31.5.16.
  • The maximum advance is £250,000.
  • An arrangement fee of £1,190 is payable.
  • There is also the option to make overpayments and take payment holidays.
  • The deal is also available to second time and remortgage customers, with a maximum advance of £1m.

Yorkshire Building Society

  • This product offers a rate of 5.99% fixed to 30.4.16.
  • Customers can borrow between £25,001 and £1m and the maximum loan-to-value is 85%.
  • The deal has no arrangement fee.
  • Borrowers can enjoy incentives of a free valuation, free legal fees and a £500 rebate on completion.
  • Flexible features of overpayments, underpayments and payment holidays are also offered.
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 Any products featured may be withdrawn by their provider or changed at any time.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

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.

Bank of Mum and Dad holds the (house) key

The Bank of Mum and Dad is an important source of finance for many young adults, and it seems that they still hold the key – in more ways than one.

Fee-free mortgages on the rise

Mortgage rates may be at record lows, but for some people, the extra costs associated can make switching deals a financial impossibility. It’ll come as welcome news, then, that the number of fee-free deals has more than doubled over the past year!
 
Close