Fixed Rate Mortgage

Fix your Mortgage Repayments for a Set Period

The lender agrees that the interest rate charged will remain the same for a specific term. This term can be as long as the full term of the mortgage but shorter term fixed rates over two, three and five years tend to have lower interest rates and therefore more popular.

Fixed rates can be with or without a tie in.

A fixed rate with a tie in means you are obliged to stay with the same lender for a period of time after the fixed rate has ended, normally on the higher standard variable rate. If you decide to move lender within the fixed rate or tie in period an early redemption charge will probably apply. A fixed rate with no tie in means you are free to move lender at the end of the fixed rate period.

To search for the best fixed rate mortgage deal in the UK click here.

Your home may be repossessed if you do not keep up repayments on your mortgage. Memigo Money provides information but does not sell or provide advice on mortgages or their suitability. There may be a fee for mortgage advice; the precise amount depends on your circumstances.

For adverse credit mortgages the overall cost for comparison will vary, the actual rate available will depend upon your circumstances. Ask for a personalised illustration.

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