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The new 1.29% five-year mortgage fixes the minimum value of all times "by one mile".
Franchise Banks Atom is to be offering a breathtaking " five-year fixed-rate mortgage float this weekend, with the high point being a all-time break rate of just 1. 29% if you can lend 60% of the value of your home. A 1. 29% agreement repairing a borrower's mortgage repayments until 2022 and coming with a 900 fee is the lowest ever seen for a five-year fixed-rate mortgage - "by one mile", according to Intermediary London & Country (L&C).
Barclays is the next most competing five-year agreement at 1. 7%, L&C said. The Atom Bank's five-year fixations will begin on Wednesday 11 April with the recent intensification of the continuing mortgage pricing battle. The Atom website provides a listing of mortgage intermediaries who can help you register for one of the new five-year fixed interest rate.
When you' re considering a five-year fixation or other mortgage, get our FREE 2017 Remortgaging or First-Time Buyer Guide that explains all the important information. Compare Atom to the other best dealers with our Mortgage Best Buys tools. It' s not just the 60% Loan-to-Value (LTV) business - Atom Bank has published a number of highly competetive fixed positions, among them an 80% LTV fix at 1.49% and a 90% LTV at 1.99%, both with a fee of £900.
"These new nuclear bank fixedes are the lowest we' ve ever seen by a mile. Mm. Barclays' present five-year low is 1.70%, i.e. 1.29%, which is an enormous decrease. The 90% LTV rate is also breathtaking at only 1.99%. "Naturally, it is important not to get too caught up: you are still bound for the full five years of the fixed rate, so these offers are not for everyone.
" They are usually for those who have no plan to move over the next five years and want to have the safety to lock into a certain, low priced tariff for a proper magic lock. There is a danger that if you terminate the transaction prematurely - e.g. if you move abroad for work - you may end up receiving an evil fine of up to 5% of your mortgage overdue.
While you may be able to transfer it (i.e. transfer your mortgage to another property), you may also have to repay a higher rate of interest on new loans. What can the Atom bank do to provide these tariffs? Using the on-line paradigm, the banks can keep many expenses such as branch offices and customer-oriented employees under control.
Atom Banka says that it is also partially able to provide such attractive interest levels thanks to the cash it has earned from the recent piggy banks that have attracted tens of millions of customers. "You are a serious financial institution with great ambition to expand your position on the global markets through the use of the online platforms in the years to come.
You have offered some large savings quotas and certainly have cash to borrow. "Since these interest levels are restricted to select brokerage firms, they can better control aggregate interest rate demands than some of the other banks."