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 It is now over 6 months old so the content may be out of date.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

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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

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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

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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."

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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.