Flexible long term mortgages for Bradford and Bingley

Bradford & Bingley, one of the major UK mortgage lenders, have announced a new ten-year fixed-rate mortgage.

Tim Anson, Head of standard mortgages at Bradford & Bingley, stated in a “climate of interest rate uncertainty”, longer term mortgages are becoming increasingly attractive amongst homebuyers from across Britain.

Tim Anson was also quoted as saying “Customers taking out a ten-year fixed-rate mortgage with us can benefit from peace of mind by locking into a great fixed-rate, while retaining the flexibility to move after five years if they need to without incurring any penalties,”.

The mortgage is available at a rate of 5.89 per cent with no arrangement fee or for customers borrowing between £25,001 and £75,000 they would benefit from a 5.69% interest rate, with an arrangement fee of £399.

Amounts borrowed between £75,001 and £1 million can obtain a 5.59% interest rate for a fee of £699, or a rate of 5.75 per cent with no arrangement fee.