When it comes to mortgages, many opt for two or five-year fixed-rate deals. But have you considered the benefits of fixing your rate for longer? Instead of revisiting your mortgage at the end of these shorter terms – often incurring additional arrangement fees, valuation costs, and legal expenses – why not secure peace of mind with a seven-year fixed-rate mortgage (writes Howard Reuben, Principal, HCH Financial Services)?
Why choose a seven-year fixed-rate?
Quantum Mortgages offers a seven-year fixed-rate mortgage at 6.24% (with a 2.25% arrangement fee), available up to 75% loan-to-value (LTV). Here’s why this could be an attractive option:
No penalties for overpayments up to 10% annually
Generous loan limits: borrow up to £1.5 million
Flexible age criteria: mortgages can be arranged up to your 85th birthday
By fixing your rate for seven years, you can avoid the hassle and costs of frequent reviews while locking in long-term financial stability.
The long-term advantage
While we’ve previously covered one and three-year deals, it’s worth exploring the benefits of longer-term fixed rates. A seven-year mortgage not only offers financial predictability but can also help you focus on your broader financial goals without the frequent disruption of refinancing.
Let’s talk about your options
If this longer-term strategy has sparked your interest, the HCH Financial Services team is here to help. Give us a call at 0333 123 4536 to discuss how this option could fit into your financial plans.
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