With a torrent of financial challenges currently affecting consumers, many are now seeking to bring greater security to their mortgage payments. Many homebuyers are now looking to long-term fixed rate mortgages, whereby they can fix beyond the 5-year mark, even up to 40 years, depending upon the deal available. These products also mean that consumers avoid having to remortgage as frequently, if at all.
As a network, we have seen a real switch from traditional two year fixed rate mortgages and we are gradually seeing more longer term fixed rate mortgages coming in, particularly amongst 51-70 year olds.
Watch our latest panel discussion
I recently took part in a panel discussion around the increasing popularity of these long-term fixed rate mortgages, looking at how these products work, the competitiveness of their pricing, the current appetite across the market and the consumer benefits available.
Please note: You will need to login or register for a free BrightTALK account before watching the webinar