1st 25 year mortgage - 18/04/2007
US style long fixed rate mortgages from Nationwide
Eight buyers chase every property - April News - News Index
Nationwide, the UK's biggest building society has launched a 25 year mortgage pitched at 5.49 per cent. Long term fixed mortgages are usually only offered on a term of 10 or 15 years. Some commentators believe that the longer fixed term is more beneficial to home owners looking for long term stability.
Interest rises have recently upset many homeowners as they struggle to meet their financial commitments in a rising house market and others believe that we have seen the last of the recent rate rises making a fixed rate mortgage a risky undertaking. The mortgage will be portable and comes with a £200 discount for existing customers but also has a hefty early redemption penalty before the first 10 years of the deal have expired.
Eight buyers chase every property - April News - News Index
