Cheapest Fixed Rate Mortgage

Cheapest Fixed Rate Mortgage

The best cheapest fixed rate mortgage available to you will be depend on your individual circumstances, such as how much you want to borrow, how long you want to spend paying it back, the kind of mortgage you are looking for. A fixed rate mortgage means that you pay a fixed amount of interest that does not change, regardless of the Bank of England’s base rate, for a certain number of years.

Advantages of a fixed rate mortgage include:

• Knowing exactly how much you will be paying in interest, making it easier to plan ahead
• The security of knowing that your interest rate will not rise unexpectedly Disadvantages of a fixed rate mortgages:
• You will not benefit from a fall in the Bank of England’s base rate as you would with a tracker mortgage
• Rates are only fixed for a limited period; once this has ended, it will revert back to the provider’s standard rate of interest.

See below for the cheapest fixed rate mortgages:

Initial Rate Type Period To Provider The Overall Cost For Comparison APR LTV   5.34% Fixed Jul 2009 Norwich & Peterborough B.Soc. 6.80% 85% More 5.75% Fixed Aug 2010 Leeds Building Society 7.60% 80% More 5.89% Fixed Aug 2010 NatWest 7.30% 75% More 5.89% Fixed Aug 2010 Royal Bank of Scotland 7.30% 75% More 5.94% Fixed Aug 2010 NatWest 7.40% 75% More 5.94% Fixed Aug 2010 Royal Bank of Scotland 7.40% 75% More 5.95% Fixed Aug 2010 Chelsea Building Society 7.30% 75% More Powered by Defaqto THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

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