Skipton are offering a 10 year fixed rate mortgage at 4.79%. Why other than the fact they do not see the interest rates going anywhere fast would they offer quite a low rate for such a long period of time? Surely this could carry quite a high risk for them?
Well, interest rates aren't planned to go up for a number of years, plus the rate isn't all that competitive when you look at the current market.
Personally I went for a short-term tracker mortgage with Nationwide, but the offer I have is no longer available. In fact, Nationwide seem to be hiding their mortgage deals at the moment!
Skipton offering 4.79% for 10 years.
