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Nationwide launches lowest 10 year fix on the market - 60% LTV with rates from 2.84%
marathonic
Posts: 1,786 Forumite
For those of you looking for the security of a long term fix, Nationwide are introducing best buy rates for 10 year fixed rate mortgages up to 60% LTV.
They are available from tomorrow and will be 2.94% for a ten year fixed with a £999 product fee (2.84% for existing customers).
Remember that, although product fees have a significant impact on the value a mortgage deal represents, the impact is less significant for a 10-year fix (where a £999 product fee is really costing £100 per year as opposed to the £500 per year it represents for a 2-year fixed rate).
However, if you're considering this, please make sure that you are in your long term home. The early repayment charges are significant and a lot can change in your circumstances over a 10-year period.
Source: http://www.financialreporter.co.uk/mortgages/nationwide-launches-lowest-10-year-fix-on-the-market.html
They are available from tomorrow and will be 2.94% for a ten year fixed with a £999 product fee (2.84% for existing customers).
Remember that, although product fees have a significant impact on the value a mortgage deal represents, the impact is less significant for a 10-year fix (where a £999 product fee is really costing £100 per year as opposed to the £500 per year it represents for a 2-year fixed rate).
However, if you're considering this, please make sure that you are in your long term home. The early repayment charges are significant and a lot can change in your circumstances over a 10-year period.
Source: http://www.financialreporter.co.uk/mortgages/nationwide-launches-lowest-10-year-fix-on-the-market.html
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