Vernon Building Society has launched a competitive range of fixed rate mortgages. With 5 year terms, first time buyers and home movers can borrow up to 95% of their property’s value and benefit from the security a fixed rate delivers.
“Demand for longer term fixed rate mortgages continues to grow as consumers seek to protect themselves against rises in interest rates. There’s so much uncertainty around Brexit negotiations and the noises from the Bank of England suggest a rate rise will be sooner rather than later so we expect funds allocated to this product to be taken quickly.” says Ian Keeling, Vernon’s Director of Sales and Marketing.
The news comes as Bank of England Governor Mark Carney recently stated that “If the economy continues on the track that it’s been on, and all indications are that it is, in the relatively near term we can expect that interest rates will increase.”
The Vernon has qualified mortgage advisers available at each branch and offers a range of savings and mortgage products for first time buyers. Their website contains a calculator which gives mortgage borrowers a guide to how much they can borrow with the Vernon.