We have launched a competitive range of fixed rate mortgages. With 3 and 5 year terms; first time buyers and existing home owners can borrow up to 95% of their property’s value and benefit from the security a fixed rate delivers.
"The appetite for fixed rate mortgages is increasing as borrowers wish to hedge against any future rises in the base interest rate," says Ian Keeling, our Head of Sales and Marketing.
The news comes as independent financial comparison service, Moneyfacts reports that ‘building societies are winning the mortgage war’, with the average five-year fixed mortgage rates lower than those of banks by 0.30%. “The report is unsurprising,” says Ian. “With no shareholders, we are not pressured to maximise profits to pay away as dividends; we seek to offer the best deal we can to both our savings and mortgage customers”.
We have qualified mortgage advisers available at each branch and offer a range of savings and mortgage products for first time buyers.
Check out our Mortgage Calculator, which gives mortgage borrowers a guide to how much they can borrow with the Vernon.