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10 year fixed rate mortgage ** 2.99%** £1k fees @ Barclays
10 year fixed rate mortgage ** 2.99%**  £1k fees @ Barclays

10 year fixed rate mortgage ** 2.99%** £1k fees @ Barclays

Barclays have lowered their rates on 10 year fixed rate mortgage.
Rate now 2.99% for 60% LTV
Comes with £1k fees though.

77 Comments

£1000 fees is disguising

I'd normally agree but this is such a long fixed rate that if the £1k fee was spread over 10 years it works out at only an extra £8 a month (assuming you pay it upfront)

This is a good deal, nationwide equivalent is 3.39%


Edited by: "sharkmark" 8th Jan 2015

A bit strange coming from Barclays,something going on?

That's a great long term fixed rate.
I'd imagine they'll be knocked over with that........................until others match or better it.

got 2.97% with £500 fee with Virgin last month but it's only fixed for 5 years

Look up the porting options though. It's OK if you are going to stick out 10 years but maybe not otherwise...
We were about to move to Nationwide 10 year but hope someone else will step up now!

As above, nationwide told us we would have to buy and sell on the same day to port the rate which is ridiculous. Moving in a couple of years so hoping rates are still reasonably low.

Great if you're staying put though!

japes

£1000 fees is disguising



I don't think they are hiding anything :P

japes

£1000 fees is disguising



They're not hidden though.... oO

need similar offset deal!

UK interest rates are going nowhere for at least another decade - the UK will go bust if they rise just a modicum...

Look at Japan.....interest rates at 0.5% or less since....1995
Edited by: "pikeybaby" 8th Jan 2015

Clicked the link but can't seem to see it. Am I looking in the wrong place?

Looks good. Wonder if others will match or better this?

Pretty good, it has to be said, even with a £1000 fee.
If you move home it says:
'Take your fixed rate with you if you move home - fees may apply'

I wonder what the redemption fees are?

tomlewis007

I wonder what the redemption fees are?




Click on the link and then read the page....

6% of the balance repaid
until 31/03/22 then 3% of the
balance until 31/03/25

Shame that the deal isn't as competitive if you don't have the 40% deposit. 3.99% for up 75% mortgage.

PikeyBaby is spot-on. Get set for deflation & negative interest rates. Personally, I prefer base-rate trackers for that reason, but as 10-year fixes go this is as good as they get. Heated.

I believe the banks are playing catchup on lending money, its been a bit slow for them recently.

Do they not offer capped rates any more?, so getting best of both worlds
Edited by: "thepharmacist" 8th Jan 2015

thepharmacist

Do they not offer capped rates any more?, so getting best of both worlds



Unfortunately not

this is a good deal for someone wanting a 10 year fixed, currently on a variable 2.49% and overpaying like mad. as others have said i cant see the rates moving anytime yet, im prepared to take the risk and ride it out another year and see how things pan out. very tempting though

When porting most companies give you a window of 3 months to complete on new purchase to get the erc back, not sure of Barclay's do but a lot do.

Good deal for 10yr fixed. Just got 1.39% on 2yr fixed. Taken 3.5yrs of term and still £100 a month better off.

If you believe pikeybabe comments then you are out of line with what the governor of the BOE thinks. Interest rates are going up. I am lucky enough to have no mortgage but would seriously consider this if I still had a young family and wanted to budget for the long term. I don t work for any of these blood sucking banks but have paid 15% interest rates,, black wednesday it was called. 2.99% will be pennies in long term..Google interest rates long term

I'm not sure this is a great deal. If Barclays are fixing the rare at 2.99% for 10 years, they are betting on the rare going down and staying down during those 10 years.

Stupid auto correct! Rare = rate.

Interest rates could rise to 5% in "the very long term", a senior Bank of England figure has said.

Sir Charlie Bean, deputy governor for monetary policy, called it "reasonable" to think rates would return to pre-recession levels in 10 years or more.

The rate was cut when the financial crisis hit the UK from 2007, and it has remained at 0.5% since March 2009.

Bank of England governor Mark Carney has said it could now rise, possibly to a "new normal" of 2.5% by 2017.

pikeybaby

UK interest rates are going nowhere for at least another decade - the UK … UK interest rates are going nowhere for at least another decade - the UK will go bust if they rise just a modicum...Look at Japan.....interest rates at 0.5% or less since....1995



Japan is a one-off - it has one of the the largest household saving rates ratio to household income in the world despite long term low interest rates.

Britain is a basket case in that respect, and if you believe interest rates in this country will not go up over the next ten years then you are likewise!

Money from thin air! This isn't s deal
It's robbery!

Good luck passing there stress test if you have dependencies... They are one of the highest in the market.... I'm jealous I can't get near then, this is a great deal...let's hope others follow

grumpyone

Japan is a one-off - it has one of the the largest household saving rates … Japan is a one-off - it has one of the the largest household saving rates ratio to household income in the world despite long term low interest rates.Britain is a basket case in that respect, and if you believe interest rates in this country will not go up over the next ten years then you are likewise!



Absolutely.

If they did interest only, I'd have a million or two of this in a heartbeat.

3.4% APR, you can't say a mortgage is a hot deal unless you look at all the aspects

good long term deal takes the worry about interest rates away if your happy with payments its a good deal

Fixed rates give certainty. But they are generally bad value for money. As some others have highlighted, the rates outlook is up but only when the economy can stand it and even then only gradually. Remember, Barclays is happy to offer this deal - they think 10 year money will be far cheaper than this! Only fix if you are happy to pay for certainty...

Emmanuell

Money from thin air! This isn't s dealIt's robbery!



This is the only guy on here who knows what he's talking about.

And Interest rates can't go much above 1% without the UK going bust.

tsb fix and flex 10 years fixed but you can move etc after 5 years with no fees.
no set up fees and £500 cashback
rates start at 3.44%

japes

£1000 fees is disguising



Personally, I cant see it ?

bitterandtwisted

Interest rates could rise to 5% in "the very long term", a senior Bank of … Interest rates could rise to 5% in "the very long term", a senior Bank of England figure has said.Sir Charlie Bean, deputy governor for monetary policy, called it "reasonable" to think rates would return to pre-recession levels in 10 years or more.The rate was cut when the financial crisis hit the UK from 2007, and it has remained at 0.5% since March 2009.Bank of England governor Mark Carney has said it could now rise, possibly to a "new normal" of 2.5% by 2017.



He said that 7 months ago at the same time he was saying they'd rise at the end of 2014.

bbc.co.uk/new…154

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