Manchester Building Society offers Fixed for Term mortgage

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Manchester Building Society has launched a unique 5.24% mortgage rate that allows borrowers to pay the same monthly repayments for the life of the loan. There's no reversion rate and you can port the mortgage if you decide to move home. The mortgage has been designed for the more risk adverse borrowers that like long term payment security. Manchester Building Society allows a maximum term of 25 years, so borrowers would potentially be able to fix for the life of their mortgage. Aaron Strutt, a broker at Trinity Financial, says: “There are very few long term options available and the Manchester's rate is something different. It also has low early repayment charges for the first 7 years at 1.5% and then 0.75%.” August 17, 2012
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