Mortgage Strategy - FCA: Lenders will offer a greater proportion of 5-year deals post-MMR
The FCA believes lenders will offer a greater proportion of five-year products as a result of the Mortgage Market Review.
Trinity Financial product and communications manager Aaron Strutt says: "The FCA seems to be saying that it wants borrowers to fix for longer terms but that's unlikely to happen at the moment because the rates are simply more expensive. These deals cost borrowers significantly more than two-year fixes in general. In response to the Daily Mail report, it definitely came as a surprise because we haven't heard from any lenders in the MMR meetings about a closing off of two-year fixed rates"
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April 22, 2014
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