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Fixed Rate Mortgages & Remortgages

With a fixed rate mortgage or remortgage, the interest rate is guaranteed to remain unchanged for a set period of time, typically one, two, three, five, or ten years.

This gives the advantage of regular, unchanging monthly repayments during the fixed rate period. After the fixed rate ends, the loan normally reverts to the lender's standard variable rate.

There are a couple of disadvantages to fixed rate mortgages. Firstly, if interest rates should fall during the fixed rate period you will not benefit from the savings like you would with a variable rate mortgage. Secondly, the arrangement fees on fixed rate products are sometimes higher than other types of mortgages.

If you would like further advice or a personalised mortgage or remortgage quote, please complete our mortgage quote request form and a mortgage broker will contact you to discuss things in more detail.

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