UK Fixed Rate Mortgage

A fixed rate mortgage makes it easy to plan ahead, because as the name suggests, the interest rate on your mortgage stays fixed.

This means that as a fixed rate mortgage customer, even if the Bank of England Base Rate or a lenders standard variable rate changes, the interest rate on your fixed rate mortgage remains constant over a specified period of time (usually around five years). Knowing what your repayments will be means that you can budget more effectively each month.

Fixed rate mortgages can be good for first time buyers and anyone on a budget who needs the stability of a set monthly repayment, however you should also consider that should the base rate go below your set interest rate you will not benefit from the fall, you will still have to pay your set higher rate.
As an alternative to a Fixed Rate there are capped rate mortgages with these mortgages you would benefit from a fall in interest rates.

Full range of UK Mortgages:

Typical, variable APR is 10.9%. Rates range from 7.7% to 18.3%
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP MORTGAGE OR DEBT REPAYMENTS SECURED ON IT
THINK CAREFULLY BEFORE SECURING ANY OTHER DEBT ON YOUR HOME. NON PAYMENT OF ANY LOAN CAN AFFECT YOUR CREDIT RATING

Every effort has been made to ensure that the facts here are correct. No liability is accepted for any errors contained herein or for any loss resulting from actions taken.