10 Year Fixed Rate Mortgage

ccblinds

I Saw On One Of Your Tips A Fixed Rate 10 Year Mortgage And Now Can Not Find Where I Saw It, Can You Advise On This Or Tell Me Of Any Other Deals With Long Terms

Many Thanks

Dave

pcyam

think i saw northern rock or britannia was advertising 10 year mortgage, search on moneyfacts.com i find they have all the information when im searching for best mortgage, isa, banking, savings etc

brranger

west brom have them 4.85% for 10 year fixed.
http://www.westbrom.co.uk

Ian_W

Nationwide have a 10yr fixed at 4.79% with quite reasonable fees.

There have been a few discussions on here about fixing for so long, search facility doesn't appear to be working ATM - otherwise I'd have turned them up. Consensus was to be cautious as so many things can change over that sort of period that can't easily be foreseen. Whilst loans may be portable any extra borrowing, if you move house, extend or whatever, will be very much at the whim of the lender you're tied to.

HTH & BoL.

stanmoresaver

Ian_W wrote:

There have been a few discussions on here about fixing for so long, search facility doesn't appear to be working ATM - otherwise I'd have turned them up. Consensus was to be cautious as so many things can change over that sort of period that can't easily be foreseen. Whilst loans may be portable any extra borrowing, if you move house, extend or whatever, will be very much at the whim of the lender you're tied to.

HTH & BoL.

Absolutely!!

AndrewSmith

Here here Ian_W

knuckledragger

I see that The Woolwich have put their 10 year fix up to 4.78% from 4.67%.
Strange, I didn't see any change in the BoE base rates!

TangentMan

knuckledragger wrote:

I see that The Woolwich have put their 10 year fix up to 4.78% from 4.67%.
Strange, I didn't see any change in the BoE base rates!

As i am sure you know, Banks fund fixed rates from the money markets, the rates of which change continually. Hence why there is no correlation between BoE and fixed rates.

BoE rates are typically used as the basis of Trackers (or indirectly discounts via SVR changes) and thus change with base rate.

Hope this helps.

ccblinds

thanks :j all got my buyer today so need to sort one out


cheers

knuckledragger

TangentMan,
You're right, I did know that the fixed rates offered are directly linked to wholesale money market rates. Unfortunately it appears to give an indication as to which direction interest rates per se may go.

TangentMan

Pesky financiers! :rolleyes:

But Martin :money: was right when he recently mentioned the 10 year fixed rates that were at low rates (such as Woolwich's mentioned in this thread) as he said "get them now as they won't hang around".