Mortgage Advice Center
Useful Tools
Mortgage Advice
Interest rate Options
Repayment Methods
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The Mortgage Advice Center is a Communication of Anderson Lloyd Llp. Anderson Lloyd Llp is Directly authorised and regulated by the Financial Services authority.
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Mortgage Advice Center - Fixed Rate Mortgage
A fixed rate allows the borrower to fix into an interest rate over an agreed amount of time. This gives the borrower the security of knowing what the monthly payments will be each month. The rate will change if the variable rate alters
A fixed rate allows the borrower to fix into an interest rate over an agreed amount of time. This gives the borrower the security of knowing what the monthly payments will be each month. The rate will change if the variable rate alters
When taking out a fixed rate mortgage an arangement fee is usually charged which is usually between £100 and £500
An early repayment charge usually appers, which will come into affect if you partly or fully repay the loan during the discounted period.
If interest rates rise above the fixed rate then the borrower will benefit however if rates reduce then they will not be able to take advantage of the variable rate.
It is also essential to be aware that if rates increase whilst you are on the fixed rate when the fixed term ends there maybe a substancial difference in the monthly payments.
Think Carefully when securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.