Fixed Rate Mortgage

The Deal:

Your lender agrees a set rate of interest for a specified period of time. Irrespective of movements in the interest rate your monthly payments will not change. Generally anything between 1 and 25 year fixed rates are available. Commonly a lender will require a non-refundable up front booking fee to be paid on application to reserve the mortgage. Further fees such as arrangement fees are also frequently experienced with this type of rate.


  • Knowing the exact monthly cost of your loan for a set period
  • The rate will also provide a buffer against increases in the interest rates


  • Unexpected increases in payments at term end
  • Possibility of losing out should interest rates fall below your agreed rate
  • Possibly tied in to variable rate with same lender for various periods following the fixed rate term end
  • Redemption penalties can prevent restructuring of your mortgage and associated finances


A fixed rate mortgage is the most suitable option in a number of circumstances the most common being those identified below:

  • Larger borrowings
  • Individuals on tight budgets expecting wage increases over the first few years of the mortgage
  • First time buyers looking for security during the first few years of setting up home
  • Borrowers who anticipate rising interest rates

Mortgage Solutions, Independent Mortgage Advisors. logo
Telephone number 01305 776311
Remortgage any purpose call Mortgage Solutions on 0845 241 2416
Change your lifestyle with help from Mortgage Solutions