Top 3 cracking ten-year fixed rate mortgages - Mortgages - News - Moneyfacts


Top 3 cracking ten-year fixed rate mortgages

Top 3 cracking ten-year fixed rate mortgages

Category: Mortgages

Updated: 15/02/2013
First Published: 14/02/2013

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
At a time of ongoing uncertainty in the mortgage and housing market, ten-year fixed rate mortgages can offer borrowers the peace of mind of knowing they will have a set monthly repayment amount over a long-term period.

Over the past year the number of ten-year mortgages in the market has doubled, with ten products available today as opposed to five in February 2012.

Ten years is a long time, however, particularly in the world of finance, so it is always wise to think ahead to ensure a long-term mortgage is the best choice for you.

Top 3 ten-year mortgages:

Norwich&Peterborough Building Society
Norwich & Peterborough Building Society

3.99% fixed for 10 years
  • Maximum loan-to-value of 75%
  • £295 reservation fee
  • £25,001 minimum advance
  • Incentives of free valuation for all borrowers, £200 rebate for purchase borrowers and free legal fees for those remortgaging

See best buys

Penny says: "Norwich & Peterborough Building Society leads the ten-year fixed mortgage sector with this highly competitive rate of 3.99%."

"This attractive deal combines a top rate, low fee and a wealth of generous incentives for purchase and remortgage borrowers. Repayment flexibility is also offered in the way of overpayments, underpayments and payment holidays."

Leeds Building Society
Leeds Building Society

4.29% fixed to 28.2.23
  • Maximum loan-to-value of 75%
  • £5,000 minimum advance for purchase borrowers
  • £25,001 minimum advance for remortgage borrowers
  • £199 booking fee
  • £800 completion fee for advances up to £500,000
  • 1% completion fee for advances of £500,001 and over

See best buys

Penny says: "This deal from Leeds Building Society sits comfortably in second place with a ten-year rate of 4.29%.

"Whilst a flat £199 booking fee applies to all customers, a higher completion fee will also apply. Those borrowing £500,001 or over should be aware that 1% of the advance will be added as a completion fee, while amounts up to £500,000 will be subject to an additional £800."

Skipton Building Society
Skipton Building Society

4.29% fixed to 28.2.23
  • Maximum loan-to-value of 60%
  • £300,000 maximum advance for first-time buyers
  • £995 fee
  • Transfers in accepted
  • Incentives of free valuation and free legal fees for remortgage borrowers

See best buys

Penny says: "In bronze position is Skipton Building Society's ten-year offering at 4.29%.

"Remortgage customers looking to keep initial costs to a minimum can take advantage of free valuation and legal fees, whilst all borrowers have the options to make overpayments of up to 10% of the outstanding balance or take payment holidays."

What Next?

Compare the best mortgage rates

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

Does your mortgage lender owe you money?

Earlier this week, the financial watchdog revealed that hundreds of thousands of mortgage holders could have been overcharged by their lender. Are you one of the many who could be in line for a windfall?

Do you think your home will rise in value?

There’s been a lot of talk recently about the rate of house price growth slowing, but is it affecting your personal expectations? According to research, it could be, with fewer people now expecting the value of their property to increase.

Confidence among “second steppers” is on the rise

We all know how difficult it can be taking that first step on the ladder, but what about the second step? In many cases, getting onto the next rung can be just as challenging, but happily, confidence among this cohort appears to be on the rise.