Blog Article

Locking into longer mortgage terms

Locking into longer mortgage terms

Date: 20 January 2023 | By: cosgrove

In a fast-changing mortgage market, many homebuyers are being drawn to the certainty provided by fixed-rate deals and locking into longer mortgage terms.

With Bank Rate and mortgage rates increasing, you can see why existing homeowners and first-time buyers would choose to opt for longer-term fixed mortgages in a bid for stability in the face of continually rising rates.

While historically, borrowers would pay more to fix into a longer-term rate, the price gap is closing and in some circumstances is disappearing altogether. So locking into longer mortgage terms  is worth considering.

It’s best to consider all the options
We’re here to find the most suitable mortgage for your needs. We don’t just deal with the ‘high street’ lenders – we offer a home and buy to let mortgage review service that is representative of the whole of the market. We can source funding from smaller, niche lenders and the newer challenger banks – including those not on price comparison sites. We can help with equity release loans and find more competitive refinance re-mortgage rates.

Take a look at our Guide to Mortgages and Protection to get a feel for our service and how it will make your life, your mortgage loan and your move, easier for you.