Mortgages rates: is it worth for a decade of certainty?

The bottom line is that when someone is to take out a mortgage, it is a massive decision that requires a lot of homework and due diligence. Most people do not have the type of money to be paying for a house in full cash. Therefore, most people, when buying a house, need a mortgage. This means that they want to make sure that they get good rates so they do not pay more in interest.

Key Takeaways:

  • When taking out a mortgage, people must make sure they are not overpaying for their interest rates.
  • The bottom line is that a mortgage is a massive commitment that people need to live with for many years.
  • Being smart with your money with buying a house is going to pay off when you are getting older.

“Charlotte Nelson, mortgage expert at Moneyfacts.co.uk, says: “Lenders are currently seeking to attract borrowers to longer-term deals by making them competitive, and this extra competitiveness has caused rates to fall, unlike the rest of the market. The gap between the average five-year fixed rate and 10-year fixed rate has decreased significantly.””

Read more: https://www.theguardian.com/money/2018/aug/04/mortgage-rate-rise-fix-10-year

Now that you've read this are you interested in talking to a mortgage adviser? Fill out the quick form below and you'll be contacted soon by an independent, regulated mortgage specialist for a free no obligation quote.

You can save between £6,000
and £15,000 on your Mortgage

Get a custom rate and see how much you will save
by filling out the quick form below.

Value of Property
Borrow How Much
Type of Mortgage:
Bad Credit History?
Yes No