Fixed Rate Mortgages

Specialist Fixed Rate Mortgage Brokers

A fixed rate mortgage is where the interest rate on your mortgage remains the same for an agreed period of time. You and the mortgage lender have agreed to fix the interest rate owed on your mortgage for a set period of time usually between 1 and 5 years. This type of mortgage can allow you to budget more easily as the amount you pay each month remains the same until the fixed rate period comes to an end. This means that if you have a fixed rate mortgage, even if the Bank of England Base Rate changes, the interest rate on your mortgage remains constant over a fixed period.