Fixed Rate

A Fixed Rate Mortgage makes it easy to plan ahead because as the name suggests, the interest rate on your mortgage stays fixed.
This means that as a fixed rate mortgage customer, even if the Bank of England Base Rate or our standard variable rate changes, the interest rate on your mortgage remains constant over a fixed period of time. This makes your budgeting easier, because you can plan ahead knowing exactly how much your monthly repayments will be.

Fixed rate mortgages can be good for first time buyers and anyone on a budget who needs the stability of a set monthly repayment. With a variable rate mortgage your payments may go up and down according to the Bank of England Base Rate. However with a fixed rate mortgage you have the security of knowing the exact amount you will repay each month, despite any changes in interest rates.
Having a UK fixed rate mortgage means the interest rate depending upon the fixed rate products available at the time, you will pay is set for a specified period. You can fix the rate for up to five years, however you may prefer to fix for two or three years. Once the fixed rate period is at an end, your repayments will revert to our standard variable rate.