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10-year mortgages

Journalist: Jane Matthews, FTAdviser

ended 23. May 2023

Hello brokers, 

Hope all is well with you this week. 

You may have seen that a number of lenders - Leeds BS, the Co-operative Bank and Platform - have pulled their 10-year fixed mortgage products over the past few days. 

Curious to hear your thoughts on this, are you advising many borrowers to go for a 10-year fix?

And are you seeing many borrowers interested in exploring these longer fixed mortgage terms? 

Many thanks, 
Jane 

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Gary Bush
Financial Adviser at MortgageShop.com
10-year fixes when the market is at a decade-long high for fixes, it's not surprising some lenders are now pulling them - we would have trouble recommending applicants take such a long-term product in a semi-peak environment. Once the market calms down and we see fixes all in the 3% banding they will start to look like a feasible option.