Fixed Rate Mortgages

Welcome to the Fixed Rate Mortgages page, if you don't like the idea of fluctuating mortgage repayments then a fixed rate mortgage is for you, with a fixed rate mortgage it is much easier to plan your finances and you also have the piece of mind of no nasty increases in your mortgage repayments.

Most fixed rate mortgages are only fixed for a set amount of time and will then revert to the standard variable rate so if the fixed rate is important to you then try to find a fixed rate mortgage where the rate is fixed for a long period of time of even for the whole life of the mortgage. Typical lengths for the fixed rate are 2, 5 and 10 years and having the fixed interest rate end can be a good thing for you as interest rates could well have fallen in that time so you would save money.

And even if interest rates have risen you could well switch to another mortgage with another fixed rate although this will not likely be as good as the previous fixed rate you would have had. Avoid fixed rate mortgages with a redemption period as these penalise you if you switch mortgages in that time period so should you need to switch to another fixed rate mortgage not having a redemption period will make things easier.