Two-year fixed rate mortgage not recommended, says John Charcol

Money News

www.moneynews.co.uk > Mortgages > Two-year fixed rate mortgage not recommended, says John Charcol

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Two-year fixed rate mortgage not recommended, says John Charcol

Consumers have been discouraged from fixing their mortgage for two years by an expert from John Charcol, who suggested people should sign up for longer if they want this type of product.

Ray Boulger, senior technical manager at the company, explained that customers would normally take out a fixed rate mortgage if they wanted to give themselves long-term security.

He said: "Frankly, if you are going for a fixed mortgage, then I don't think there is an awful lot of point in fixing for two years."

Mr Boulger made his remarks in response to a report by unbiased.co.uk showing the average rate a UK consumer would be prepared to fix at is 3.3 per cent.

In his opinion, this is quite realistic if people want a two-year product, but anything beyond that will be very difficult to find.

The John Charcol representative went on to stress that it would be interesting to find out who unbiased.co.uk spoke to when carrying out the survey in question.

Click here for more mortgages newsADNFCR-323-ID-800335839-ADNFCR

Related News : Mortgages

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet