Fix your mortgage for 15 years - Published:01/11/06
What will you be doing for the next 15 years While more adventurous font would recoil at the thought of knowing, there are many people out there who would like the security of being able to diagram the next decade-and-a-half of their livesThe choice of mortgages for those who would like to peer into the prospect is growing, with an increasing number of lenders offering spirited long-term fixed rate home loansA diversity of ten-year fixed rate mortgages have been launched over the past year with rates that vie with the best shorter-term offersNow Stroud and Swindon Building civilization has decided to go one better, by offering a 15day fixed rate mortgage at 499% - a inferior interest rate than that approved by many two or three-year fixed dealsDavid Greenleaf, of Stroud & Swindon, says: 'We wait for there would be a number of people in dissimilar situations who would look at such a deal It's more about their viewpoint on life'It could be someone taking a lasting view leading up to retirement, or somebody on a relatively fixed profits Would it plea to first-time buyers Probably not, although there is security there are more specialised first-time buyer products'We wanted to attempt and examine what the insist for this sort of product is We're not anticipating this will put up for sale in great volume, but in the present market it is an attractive rate at a time when interest rates have gone up and pundits wait for them to go up again'According to the Council of Mortgage Lenders, Britain's most well-liked mortgage is the two-year fixed rate dealBut with the price of remortgaging rising due to higher fees and an increased contribution of attractive longer word deals, interest in five-year and ten-year fixed rate mortgages is on the upIn return for the good interest rates on offer, most long-term deals come with hefty near the beginning repayment charges during the fixed era, although Stroud & Swindon only carries one for the first ten yearsMost deals, counting Stroud & Swindon, are moveable and can move to a new possessions, but if borrowers need to take on extra borrowing, they will generally have to do so with their existing lender at whatever rate they proffer at the timeThe Government has been keen to give confidence homeowners to take a long-term outlook, but the start of American-style 20 and 25-year fixed mortgages has been low in the UKThe advantage of these deals is that they offer exit windows of chance at certain points, for example Cheshire structure Society has a 25-year fixed rate deal with near the beginning repayment charge-free exit points at six, eight, ten years and so onJames Cotton, of agent London & Country Mortgages, says that sometimes while the tax look good-looking often borrowers are put off by the idea of a lasting cast iron commitmentFor this reason the flexibility offered by a long-term counterbalance mortgage may be better as borrowers can use savings to decrease interest and also borrow back to fund a move to a more costly propertyJames Cotton says: 'As there are a number of firms pending out with good long-term deals there is more interest in them than customary It's good to see lenders such as Stroud & Swindon, Leeds and Woolwich giving people more option'Their portability does give some suppleness but there are restrictions such as having to have a loan of more with the same lender'Alternatively, there is the option to counterbalance First Direct have a ten-year fixed rate counterbalance at 519% It's slightly higher than the best tax but the offset benefits are there You can draw back up to the original amount during that time which could fund a move, extension or refurbishments'choose a loan term 12 months (1 day 24 months (2 years) 36 months (3 natural life 48 months (4 natural life 60 months (5 natural life 72 months (6 natural life 84 months (7 natural life 96 months (8 natural life 108 months (9 natural life 120 months (10 years)Please select a type of insurance Life insurance house and contents Car Breakdown services physical condition - medical physical condition - dental.
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Barclays and Woolwich launch fee-free mortgage range - Published:31/10/06
Barclays and Woolwich have launched a new variety of fixed speed mortgages with no arrangement feesThis includes a two-year fixed rate mortgage with an interest rate of 489 per cent till 31st January 2008There is also a five-year set rate mortgage with an interest rate of 499 per cent until 31st January 2011As well as no agreement fees on the products, there are no early refund charges beyond the fixed rate era and other flexible features such as overpayingThese mortgage deals are also available to those looking to re-mortgage their property and there are no valuation or legal expenses to those switching from another lenderThe fee-free mortgage option is becoming increasingly well-liked with lenders The growing competition in the mortgage market means more option for borrowersMoneyExpert Limited is authorised and regulated by the Financial Services Authority (FSA register No 301654) The Financial Services Authority does not control some forms of mortgage contract, credit cards, personal loans, current financial records and deposit.
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Best savings account rates slashed, warn analysts - Published:28/10/06
Savers have been warned that best investments account interest rates are tumbling and may continue to do so through the beginning of the yearThe heavily publicised 025 per cent slash by online have an account ING was just the tip off an iceberg speak analysts, as some of the biggest players in the field reduce the rates payableThe move comes in spite of the Bank of England bottom rates of interest staying steady since August's rate cutAlongside ING, West Bromwich Building civilization has cut its speed by an unappealing 40 per cent, Scarborough and Woolwich structure societies have both cut rates by 025 per cent and Halifax has slash rates by 023 per cent"Consumers need to take manage of their savings to ensure they are attainment a decent return on their hard earned savings," said analyst Rachel Thrussel"Just because we haven't seen a slash in base rate for five months, savers shouldn't mechanically assume that the interest rate on their savings explanation will remain untouched"They should keep a close eye on the best pay money for tables published in the national press or financial contrast websites, or if in any doubt, give their bank or building society a call to clarify," she addedMoneyExpert incomplete is authorised and regulated by the Financial military Authority (FSA Registration No 301654) The monetary Services Authority does not regulate some forms of mortgage agreement, credit cards, personal loans, current accounts and.
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