The new product, Habito One, will allow home buyers to stay on the same mortgage rate for up to 40 years. Habito One has been launched by the online mortgage broker Habito, with the backing of fund manager CarVal Investors. The interest rates are substantially higher than on a standard two or five-year fixed term mortgage. If a buyer had a 40 per cent deposit and wanted a mortgage term of 10-15 years, the interest rate would be 2.99 per cent. Habito is primarily known as an online brokerSpeaking about the new Habito mortgages, Colin Bell, co-founder and chief operating officer at Perenna, said: 'We believe that long-term fixed rate mortgages are the future of Britain's housing market.

Source: The Nation March 10, 2021 10:52 UTC