Lowest Ever 5 Year Fixed Rate.

We can’t promise non-stop sunshine over the Bank Holiday or make those chocolate eggs less fattening, but we can bring you an Easter bonus that will keep on giving for the next 5 years.
The lowest ever 5 year fix rate mortgage was launched today at 1.29%. We’re assured it’s not a mistake but you can be certain it won’t be available for long.
If you aren’t looking for a new property right now and are happy in your home it’s easy to ignore what’s happening in the market.  However, rising house prices can be great news if you have a mortgage, as the extra equity in your home affects your mortgage in a very positive way.

An example
Say you bought a property for £200,000 in 2010 and took out a 90% mortgage (£180,000) over 25 years. Now, with prices increasing it might now be worth £260,000. Even if none of the mortgage capital had been repaid this is a new loan to value (LTV) ratio of 70%. And a lower LTV ratio means less risk for the lender and therefore a better rate for you.

There has been lot’s of speculation about when interest rates might rise and by how much.  This could be the very best time to secure the best ever rate and remove any worry from your financial future for the next 5 years.

To find out more and get the ball rolling please contact us on 01983 525710.

Representative example: A mortgage of £193,051 payable over 23 years, initially on a fixed rate for 5 years at 1.29% and then on a variable rate of 3.75% for the remaining 18 years would require 60 payments of £809 and 216 payments of £1,045. The total amount payable would be £275,160 made up of the loan amount plus interest (£81,209) and fees (£900). The overall cost for comparison is 2.83% APRC representative.