Tailored rates with firstmortgage.co.uk
What is a fixed mortgage?
Unlike discounted or tracker deals, a fixed rate mortgage means that you will pay the same amount of interest for an agreed time (usually 1-5 years). Often the rates are slightly higher than a variable loan, but they offer the security of knowing that if interest goes up, your repayments will remain the same.
More fixed rate mortgage advice...
This type of deal is ideal for anyone who likes to know exactly how much is coming out of their account each month
Young families and single homeowners may want to avoid the possibility of sudden repayment increases by taking out a fixed deal
However - if interest rates fall, you won’t see the benefit
Those with unpredictable income (e.g. self-employed or commission workers) then this may not be the right deal for you
At the end of your fixed term your deal will likely revert to your lender’s standard variable rate
If you would like more fixed rate mortgage advice feel free to call us on 0845 603 1525 for a free consultation. You may also want to view other types of deal available, including discounted, tracker, flexible, capped, offset, current account and cashback mortgages.
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