Mortgage providers are starting to pull their ten-year fixed rate deals — with ten taken off the market over the past five days. Home loan costs have soared since Bank of England chiefs began raising the base rate to combat spiralling inflation. A swathe of ten-year deals has been taken off the market in the wake of the most recent base rate hike, when it hit a 15-year-high of 4.5 per cent earlier this month. Rachel Springall, of Moneyfacts, says: ‘Borrowers looking to secure a decade-long mortgage will be disappointed. In February Virgin Money released a 10-year fix at 3.99 per cent and was followed quickly by HSBC which offered the same deal.

Source: Daily Mail May 24, 2023 03:04 UTC