Woolwich offering leading ten-year fixed rate mortgage

by Aaron Strutt

Jul 01 2014

Woolwich for Intermediaries is offering one of the most competitively priced ten-year fixed rate mortgages. 

Their 3.99% ten-year fix has a 1,499 arrangement fee and borrowers will need a 30% deposit to access the rate. The APR is 4.5%.

The maximum loan size is £1 million and after the fixed rate period the mortgage reverts to 3.39% over the Bank of England base rate.

Aaron Strutt, product manager at Trinity Financial, says: “Most of the mortgage lenders don’t offer fixed rates for longer than five-years and there aren’t that many ten-year fixes.

“Woolwich’s ten-year fix has high early repayment charges, so borrowers planning to lock themselves in for such a long deal need to be sure they are going to be in the property for the foreseeable future.”