Fixed Rate Mortgage

This type of mortgage is where you and the mortgage lender agree to fix the interest rate owed on your loan for a set period of time. The period of time is usually between 1 and 5 years but could be longer. After the agreed period, the interest rate owed on your loan usually reverts to the lender’s Standard Variable Rate. Should you wish to end the loan before the agreed term an early redemption penalty may be charged.

Your home may be repossessed if you fail to keep up the repayments on your mortgage.

Why not contact us for a more detailed analysis of your requirements.