Representative Example: Mortgage of £100,000 on property valued at £200,000 over term of 25 years. Rate fixed untilfor 26 months after which reverts to HSBC variable rate of 4.04%.
Representative Example:
Mortgage of £100k on property valued at £200k over term of 26 months. Rate fixed for 2 years after which reverts to HSBC variable rate of 4.04%.
Compare 10 Year Fixed Rate Mortgages - search a range of mortgage deals for first time buyers, people moving home and for those looking to remortgage.
A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.
The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).
In this example the overall cost for comparison is 3.7% APRC representative.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT
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To investigate your 2 year fixed rate mortgage options call our mortgage team on 0117 313 7780 or fill in our call back form.
Ten year fixed rate mortgage may not be as common as their two, three and five year counterparts, but they are still available if you know where to look. This could be welcome news for those buyers who wish to fix for a longer period of time giving them the certainty of what their monthly payments will be for the duration of their loan. Longer mortgage deals are certainly more common in the USA and in the rest of Europe than in the UK, and the security they offer could prove a popular choice. However, there are pros and cons to a ten year fixed rate mortgage, as with any mortgage deal.
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