Good opportunity to fix your mortgage for longer by choosing Five-Year fixed rate.

The biggest dilemma for many borrowers is around choosing how long they want to fix their mortgage for. New data shows that choosing longer term fixed rate for five years may be of a better value

Commonly, two year fixed rate mortgage was more popular because generally it offered lower rates and more flexibility then the five year fixed rate. However, the difference between two and five year fixed rate is so minimal that it makes five year fixed rate more attractive.

I would say this is great news for many borrowers as it could be beneficial for peace of mind especially in the current economic conditions to have longer term stability & protection from future interest rates increases.

Of course, it is completely impossible to know what rates will be in two year’s time or what unexpected changes might happen to our circumstances, so ensure you speak to a broker who can assess your individual needs and provide you with as many options as possible.

To discuss your individual requirements please call us on 01483592743 or 07834173731 Alternatively please send us an email at info@themortgagechoice.co.uk

Your home may be repossessed if you do not keep up repayments on your mortgage

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Information sourced & for full article please visit What Mortgage 

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