Building society, Stroud & Swindon has launched a 15-year fixed rate mortgage at 5.15% until 2022.

This is the second 15-year fixed rate deal that Stroud and Swindon has launched in the last two months with the first product selling out within two weeks.

Paul Chafer of Stroud & Swindon Building Society comments: “The housing market is showing no sign of slowing pace, forcing consumers to borrow vast amounts of money. Combined with the rise in interest rates and increasing energy bills, many homeowners are facing very stretched budgets.
“As a result, we have launched a second 15-year fixed rate mortgage, with a competitive rate of 5.15%. Rather than the hassle, expense and lack of security of finding a new mortgage deal every two or three years, this gives borrowers piece of mind by offering a great rate for 15 years without having to worry about possible future interest rate rises."