Fixed rate mortgage

Fixed-rate mortgages allows you to plan your finances usually between one and five years, safe in the knowledge that during the period of the loan, the rate is fixed; your mortgage repayments will not be affected by changes in the interest rate. Fixed rate mortgages appeal to those borrowers who are seeking repayment stability or speculate that the market rates will increase.

In most cases, fixed rate mortgages will have redemption penalties; should you try to switch or pay the mortgage off within the discounted period, you may incur penalty charges. At the end of your fixed-rate period, you will normally revert to the standard variable rate. Prior to the expiration of your fixed mortgage period, you might want to consider reviewing your ongoing product options.

Need more help or advice?
Barket Financial Management will guide and help you find the best products and services to suit your requirements and circumstances. To discuss your options in more detail, please call one of our friendly team on +44 (0)1582 482333 or complete an online enquiry here.