The Sunday Times - Ten years’ peace of mind on your mortgage at 1.99%
Homeowners with a healthy deposit can now fix their mortgage for a decade at less than 2% after Barclays cut rates for well-off borrowers.
The ten-year fixed rate of 1.99% is available to borrowers with a 40% deposit and has a £999 fee. The bank said that the long fix would offer long-term security for those worried about fluctuating rates in unsettled times. The product has 5% early repayment charges and a maximum loan size of £1 million.
Aaron Strutt of Trinity Financial told The Sunday Times: “I can see older borrowers in their ‘forever’ homes being tempted into taking out a ten-year fix.”
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