Bradford & Bingley flexible long term mortgages

Bradford & Bingley Group and its specialist lending subsidiary, Mortgage Express, have announced a new ten-year fixed-rate mortgage. The mortgage possesses early repayment charges for the first 5 years of the mortgage. Head of standard mortgages at Bradford & Bingley, Tim Anson, said in a "climate of interest rate uncertainty", longer term mortgages are becoming increasingly attractive among British homebuyers.

Tim Anson added that "Customers taking out a ten-year fixed-rate mortgage with us can benefit from peace of mind by locking into a great fixed-rate, while retaining the flexibility to move after five years if they need to without incurring any penalties,".

The Bradford & Bingley mortgage is available at a rate of 5.89 per cent with no arrangement fee or for customers borrowing between £25,001 and £75,000 they would benefit from a 5.69% interest rate, with an arrangement fee of £399.

Amounts borrowed between £75,001 and £1 million can obtain a 5.59% interest rate for a fee of £699, or a rate of 5.75 per cent with no arrangement fee.