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Our favourite long term fixed rate mortgage deals

If you want to play it safe regarding potential future interest rate rises, a long term fixed rate mortgage might be a good option.

The main advantage about a fixed rate is that you know how much your mortgage repayments will be each month.

At the moment, interest rates are at a record low, so it’s an ideal time to fix.

Here are some of the best long term fixed rate mortgage packages we found on the market.

  • Chelsea Building Society – This 10 year fixed rate mortgage offers a rate of 4.89 per cent and is for home buyers, first time buyers and remortgagers alike. The mortgage is available up to 70 per cent loan to value (LTV), which means a deposit of at least 30 per cent would be required. The upper borrowing limit is £1 million. A booking fee of £195 applies, along with a completion fee of £1,300.
  • Yorkshire Building Society – The Flexi 10 Year mortgage has a fixed rate of 4.69 per cent and is also suitable for home purchasers, first timers or those who are remortgaging. It is available up to 75 per cent LTV, which means borrowers need to provide a minimum 25 per cent deposit. The application fee is £195 and completion fee £800, and the maximum borrowing limit is £1 million.
  • Skipton Building Society – This 10 year fixed rate mortgage is being offered at 5.85 per cent with no product fees. It is designed for homebuyers, first time buyers and remortgagers, with free legals and valuations on offer to remortgagers. It is available up to 85 per cent LTV, which means just a 15 per cent deposit would be needed. The maximum loan amount is £500,000.

 

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