
10-year fixed-rate mortgage with free get-out after 5 years
For borrowers who are happy to stay where they are, a long-term fixed rate mortgage gives certainty, and can look increasingly attractive as rates go up over time. Plus it saves the effort (and the cost) of chopping and changing.
The Scenario
Six months earlier we arranged a bridging loan for these clients to buy a very attractive Grade II-listed farmhouse outside Wolverhampton, complete with barns and masses of potential. But dilapidated (and unmortgageable).
Now the essential refurbishments were nearing completion and the house was in a mortgageable condition they came back to us to arrange their exit with a lower-cost, long-term mortgage.
The Solution
This is a property they’ve invested a lot of time and effort in – it’s going to be their family home, so they were happy to commit to a long-term fix and save the re-valuation and product fees of arranging another mortgage in two or five years’ time.
We found them a 10-year fixed rate at 2.35%, which compares very favourably with a current 5-year fix of 1.99%.
And what was even more attractive about this product was that the Early Repayment Charge (ERC) only applies for the first five years. (Most lenders aren’t prepared to be that generous when committing to a long-term rate.)
After that time, if rates are looking better elsewhere our clients can cancel without penalty charges. Or, if rates have risen, they can stick with this low rate for the full 10 years.
Louis Levine
Finance Executive CeMAP
Bristol
0117 457 7862
Are you looking for a similar type of property finance?
Get in touch today and find out how I can help.
George Abouzolof
Finance Broker
Bristol
0117 403 3444
Do you need help sourcing your own property finance?
I have extensive experience securing UK mortgages for expat clients. Book a free telephone consultation with me at a time to suit you
Bridging Team
Clifton Private Finance
Bristol
0117 959 5094
Are you in need of a similar type of property finance?
Book a free telephone consultation with one of our bridging specialists today and see how we can help you.
Sam Baker
Finance Broker
Cardiff
0117 959 5094
Are you looking for a similar type of property finance?
As a specialist bridging adviser at Clifton Private Finance, I can take a holistic view of your situation and find the right finance solution for you. Book a free telephone consultation with me at a time to suit you
Fergus Allen
Finance Broker
Cardiff
0117 959 5094
Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.
Book a free telephone consultation with me at a time to suit you
Jacob Phipps
Finance Broker
Bristol
(+44) 0117 959 5094
Are you looking for a similar type of property finance?
I specialize in helping international clients source residential and investment property finance for UK property. Book a free telephone consultation with me at a time to suit you
Jack Spillane
Finance Broker
Bristol
0117 959 5094
Mathew Phillips
Senior Finance Broker
Bristol
0117 959 5094
Are you in a similar situation? I specialise in bridging finance at Clifton Private Finance - I will find you the best funding solution for your property transaction.
Book a free telephone consultation with me at a time to suit you
Alex Chambers
Senior Finance Broker
Bristol
0117 403 4324
Are you in a similar situation? I am a specialist in residential and investment property finance for UK and international clients at Clifton Private Finance. Please don't hesitate to get in touch for a no-cost discussion of the finance you need.
Book a telephone consultation at a time that suits you:
Luther Yeates
Senior Finance Broker
Bristol
0117 244 5561
Are you looking for a similar type of property finance?
I have extensive experience finding residential and investment property finance for UK and international clients. Book a free telephone consultation with me at a time to suit you.
Sam ONeill
Senior Finance Broker
Bristol
0117 959 5094
Is your situation similar?
I am a bridging finance specialist at Clifton Private Finance. I can find a quick, cost-effective solution for the funding you're looking for. Book a free telephone consultation with me at a time to suit you
Robert Gibb
Senior Finance Broker
Bristol
0117 959 5094
Are you looking for mortgage or short-term finance for residential or buy-to-let property (including HMOs)? I have extensive experience in finding property finance solutions for UK and international clients, both as individuals and limited companies. Please give me a call and let me see what I can do for you.
Book ConsultationAdam Arnott
Associate Director
Bristol
0117 205 0214