Fixed Rate Mortgage
In periods of uncertainty, a mortgage with a 'fixed' interest rate provides peace of mind and security against increased mortgage costs. Payments can be fixed from 1 to 10 years, allowing you to budget your outgoings.
Whether to 'fix' now, or wait and see what happens to interest rates over the next 6 - 12 months depends on your, very indivdual circumstances.
If a fixed rate is your priority, Mortgage, Protect & Insure will take the hassle out of finding the most cost effective way of repaying borrowing. Our assessment of the whole market includes a comparison of any existing mortgage arrangements.
Your home may be repossessed if you do not keep up repayments on your mortgage.
For mortgage advice you can choose how we are paid: -
- No fee. We will receive commission from the lender when your mortgage completes.
Or
- A fee. A fee of typically £580 payable on completion of your mortgage. Any commission received from the lender will be refunded to you.
Or
- A combination of a fee & commission. A fee of typically £280 payable on completion of your mortgage In addition we may receive commission from the lender.
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A 'Fixed Rate' Mortgage . . . peace of mind & security . . . but is it for me . . . should I 'fix' now???
A bit more background: -
- The longer the 'fixed' period, the lower the rate.
- The Bank of England are trying to encourage rates down!!
- But lenders seem reluctant??
- Standard variable rate (SVR) loans will probably be cheaper!?
- Whatever the current rates, how important is it for me to 'fix' my costs?
The benefits: -
- In uncertain times, 'fixing' does provide the certainty about mortgage costs.
- Provides protection against possible rising interest rates.
- Could prove to be a cheaper mortgage during the 'fixed' term.
And the downsides: -
- 'Fix' now and interest rates may come down!
- Lenders will often charge an Arrangement Fee, increasing initial costs.
- Early repayment charges will apply during the fixed period (and may continue beyond!).
- Mortgage payments may 'shoot up' when the fixed period ends.
-
Your home may be repossessed if you do not keep up repayments on your mortgage.
-
For mortgage advice you can choose how we are paid: -
- No fee. We will receive commission from the lender when your mortgage completes.
Or
- A fee. A fee of typically £580 payable on completion of your mortgage. Any commission received from the lender will be refunded to you.
Or
- A combination of a fee & commission. A fee of typically £280 payable on completion of your mortgage In addition we may receive commission from the lender.
For further advice . . . . . 
.