This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM+Cover+small+181214
Categories:Mortgages

10-Year fixes will stay niche despite rush for N&P loan

  • Print
  • Comment

Brokers believe 10-year fixed-rate mortgages will remain niche products despite strong demand for Norwich & Peterborough’s 3.99 per cent 10-year fix which has been withdrawn after strong demand.

The loan, available up to 75 per cent loan to value, is thought to be the lowest-ever 10-year fix.

Brokers say demand would rise if more low-cost options were offered but they will still only be suitable for a minority of borrowers. All Types of Mortgages managing director Dale Jannels says: “If borrowers know they will stay married for 10 years and will not move, a long-term fix is a good product but for many, these products do not offer enough flexibility.”

Chadney Bulgin mortgage partner Jonathan Clark says: “If we saw more 10-year fixes priced like that, there would be an increase in demand but most people fix for no more than five years and I do not see that changing.”

  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Money Marketing Awards 2015
Put your firm forward as the leading practitioner in your field. Adviser and Advertising categories are open to entries - Enter Now.

Have your sayEdit my profile/screen name

You must sign in to make a comment

AXA Wealth


Fund Data

Editor's Pick



Poll

Will providers be forced to pay out compensation over annuity misselling?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments