Bradford & Bingley launches range of 10-year fixed rate mortgages

Bradford & Bingley has launched a range of 10-year fixed rate mortgages that carry early repayment charges for the first five years of the mortgage term only.

The range is ideal for customers looking for a highly competitive long-term fixed rate that offers them the flexibility to move penalty-free after five years if they need to.

Customers borrowing between £75,001 and £1m can choose between a rate of 5.59% with an arrangement fee of £699, or a rate of 5.75% with no arrangement fee.

Customers borrowing between £25,001 and £75,000 can take advantage of a rate of 5.69% with an arrangement fee of £399, or a rate of 5.89% with no arrangement fee.

Tim Anson, head of standard mortgages at Bradford & Bingley, said: “In this climate of interest rate uncertainty, longer term fixed rate mortgages are becoming an increasingly popular choice for borrowers.

“Customers taking out a 10-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.”