Fixed Rate Mortgage

What is a Fixed Rate Mortgage?

A Fixed Rate Mortgage is a type of mortgage where the rate of interest is guaranteed for a set period. With this type of mortgage, you know exactly how much you will pay each month until the end of the Fixed Rate period, after which time they revert to the mortgage provider's Standard Variable Rate.

They are sometimes offered at a lower rate for a short period as an introductory offer.


Q: How long do fixed rate mortgages stay fixed?

A: They can vary - some will only be for the first two years of a mortgage, others may remortgage up to a 10 year fixed deal. Check with your mortgage lender if you are unsure about the terms and rates of your agreement.

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