10 year Fixed Rate Mortgage10-year fixed-rate mortgage with fixed interest rate
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Launch of 10-year fixed-rate mortgage portfolio by Halifax Group
The Halifax Group has introduced a range of 10-year fixed-rate mortgage products aimed at do-it-yourselfers and borrower-changers. 10-year fixed interest is available at 60 per cent LTV and 75 per cent LTV for credits between 25,000 and 1 million, with or without charges included. Homemoverers start at 2.44 percent at 60 percent LTV and 2.59 percent at 75 percent LTV rate, both with a charge of 995 pounds.
The mortgage rate starts at 2.69 percent at 60 percent LTV and 2.89 percent at 75 percent LTV, both with a charge of 995 pounds. Halifax's mortgage manager, Andy Bickers, said the "competitive" fixed assets support the company's two and five year fixed rate product offerings to address customers' evolving needs.
Coreco Fire Department Fire Department Andrew Montlake said that long-term fixed pricing can be a good thing for some clients, but not for others. "Offering clients the opportunity to choose a longer-term fixed rate is always good, especially when there is a chance of raising interest levels.
"Yet the real thing is that 10-year fixed interest will be a hit, creditors need to look at more agile offerings rather than a full 10-year commitment. This length may be too long for some clients, as changes in lifespan may demand a certain degree of agility and short-termism - for example, some creditors might provide a 10-year fixed rate with only a five-year commitment."
The Halifax Mortgage Service is providing 500 for its mortgage gifts to clients applying for a qualified mortgage by 12 August.