Grab a 10-year fix fast before they are all pulled: Ten deals taken off market over the past five days
Mortgage providers are starting to pull their ten-year fixed rate deals — with ten taken off the market over the past five days.
Home loan costs have soared since Bank of England chiefs began raising the base rate to combat spiralling inflation.
A swathe of ten-year deals has 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 per cent earlier this month.
A swathe of ten-year mortgage deals has 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 pulled two of its deals last Friday, while The Co-operative Bank and its subsidiary mortgage provider, Platform, withdrew eight offers on Monday.
Rachel Springall, of Moneyfacts, says: ‘Borrowers looking to secure a decade-long mortgage will be disappointed.
Although long-term deals can bring peace of mind, the rates on offer are typically about 2 per cent higher than they were this time last year.’
Among the most competitive is a ten-year fixed rate mortgage from the online bank First Direct, at 4.04 per cent.
toby.walne@dailymail.co.uk

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