As uncertainty continues, particularly over Brexit, more and more people are choosing to fix their mortgage rate.

First-time buyers and those coming to the end of a deal or switching from their lender’s standard variable rate, are plumping for the certainty of knowing what their payments will be for some years ahead.

They are worried that increases in the Bank of England mortgage rate this year will be followed by more next year.

In response, mortgage lenders are providing loans that offer that fixed-rate peace of mind.

And they are going further than the traditional two or five-year fixed rates, by introducing seven-year fixed mortgage deals.

Yorkshire Building Society has become the latest to launch some new seven-year deals, offering 2.16 per cent for those looking for 65% of their property’s value; 2.26per cent for people with a 25% deposit and 2.36% for those with 15% to put down.

The Yorkshire is just the latest provider to launch seven-year deals, seen as providing more security than a five-year deal but without committing to a 10-year rate.

Coventry and Skipton building societies and Virgin Money also have seven-year fixed rates available, again at differing rates of interest, depending on the amount of deposit you have for your home.

All of these deals have various different arrangement fees and exit fees and so it is worth sitting down and discussing your options before taking the plunge for lucky seven and signing up. If you’d like a chat to discuss this or any mortgage or insurance issue call me on 07767 692 653 and fix a meeting.