Fixed rate mortgages UK
With a fixed rate mortgage, you can:
- Know how much your monthly payments will be and have the peace of mind that they won’t change unexpectedly
- Retain a fixed rate for a certain period of time from 2 years to the life of the mortgage
- Potentially save money by retaining a rate that will not rise with the Bank of England base rate
There are a great deal of fixed rate mortgage providers in the UK, so it is always advisable to compare mortgage offers as much as possible in order to find the best results. These interest rate deals are very popular among customers, as their rates are guaranteed to remain the same for a fixed period.
For many people in the UK, fixed rate mortgages are often used as monthly repayments are made relatively easy to manage. There is a sense of security with a fixed rate mortgage, as customers can effectively budget for their repayments for the length of the period.
See our mortgage comparison tables above for some of the latest fixed rate mortgages in the UK today.
For customers who are perhaps less experienced, this ability to manage their repayments more easily maybe exceedingly welcome. Neither policy changes from the lender nor changes to the current financial climate can influence the cost of interest repayments during the course of the agreed term.
If you are looking for a fixed rate mortgage in the UK, you may find that deals and offers can be extremely varied, as policy terms can often range from an average of 2-25 years. If for example interest rates were to accelerate during your arranged contract, then you could potentially save yourself a large amount of money.
If however, they fall noticeably, then you could end up paying more money for your monthly repayments than you originally thought you would be. Like any financial product, there is a certain degree of risk involved with these agreements, although they are still widely considered to be very secure.
There are many different fixed rate mortgages in the UK that are available on the market, so it helps to compare a few different policies and their prices. Comparing fixed rate mortgages is also a great way to create a better idea of the type of mortgage most suited to your requirements.
Require mortgage advice? You can call our mortgage team on: 0117 332 6063
Monday to Friday 8.30am to 7pm