A fixed rate for life

With so much uncertainty in the mortgage market at present the security of knowing a borrowing rate is fixed for life can be reassuring. Whilst Equity Release or Lifetime Mortgage options are not right for everyone, the security of knowing the interest rate is fixed for life can provide some reassurance when planning for the future:

• ‘Rachel Springall, finance expert at Moneyfacts.co.uk, said: “The rise in product choice and reduction in cost for fixed deals will be exciting news for those who have equity locked up in their homes and are eager to make better use of the cash. New brands, more drawdown options and an influx of incentives have also appeared to appeal to a variety of customers.” ‘

(What Mortgage – April 2017).

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