10 Aug

Homebuyers encouraged to take out fixed-rate mortgage

Homebuyers encouraged to take out fixed-rate mortgage

People looking for houses to buy in the UK have been encouraged to take out a fixed-rate mortgage after a new deal was announced.

Earlier today (August 10th), Yorkshire Building society revealed its latest three-year mortgage offer, which allows borrowers to access a fixed-rate mortgage at 3.65 per cent.

The loan is available to homebuyers who have a 25 per cent deposit and comes with a fee of £995.

Product manager for mortgages at the building society Tom Girling said that choosing a fixed-rate mortgage was a good option for people looking for more security with their loans.

"Fixing your mortgage can give you piece of mind when it comes to your repayments," Mr Girling commented.

He added that it is "almost inevitable that rates will rise over the next few years".

Last week, HSBC launched a five-year fixed-rate mortgage at 3.85 per cent for homebuyers who had a 40 per cent deposit.ADNFCR-1222-ID-800019555-ADNFCR

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