What is a Fixed Rate Mortgage?

This is a very common type of mortgage, and is when the lender fixes the rate that you will pay for a set period. For example, the lender may set the rate at 5.75% for the first three years. After this fixed rate period the rate you pay will change depending upon what specific mortgage you have chosen.

Fixed rate mortgages are ideal for borrowers who want to budget and like to know exactly what they will have to pay each month.

Fixed rate mortgages can normally be paid on either an interest-only or repayment basis. 

Why not take a look at some of the latest residential fixed rate mortgages or call one of our specialist residential mortgage advisers for more help.
Call now on 0845 148 9165.