Quickly grab a 10-year fix before they’re all withdrawn: 10 deals taken off the market in the past five days
Mortgage lenders are starting to withdraw their 10-year fixed-rate contracts – 10 of which have been taken off the market in the past five days.
Home loan costs have skyrocketed since Bank of England leaders began raising key interest rates to combat rising inflation.
A slew of 10-year deals have been pulled off the market in the wake of the most recent hike in base rates, when it reached a 15-year high of 4.5 percent earlier this month.
A host of 10-year mortgage deals have been taken off the market in the wake of the most recent base rate hike, when it hit a 15-year high of 4.5% earlier this month
Leeds Building Society withdrew two of its deals last Friday, while The Co-operative Bank and its subsidiary, mortgage lender, Platform, withdrew eight offers on Monday.
Rachel Springall, of Moneyfacts, says: ‘Borrowers looking to take out a 10-year mortgage will be disappointed.
While long-term deals can bring peace of mind, the rates offered are typically about 2 percent higher than at this time last year.”
One of the most competitive is a ten-year fixed-rate mortgage from online bank First Direct, at 4.04 percent.
toby.walne@dailymail.co.uk