With a fixed rate mortgage the rate stays the same, so your payments are set at a certain level for an agreed period. At the end of that period, the lender will usually switch you onto its standard variable rate.

You may have to pay a penalty to leave your lender, especially during the fixed rate period. You may also have to pay an early repayment charge if you pay back extra amounts during the fixed rate period.

A fixed rate mortgage makes budgeting much easier because your payments will stay the same - even if interest rates go up. However, it also means you won’t benefit if rates go down.



There may be a fee for mortgage advice.  Charging of such a fee will depend upon your circumstances but if we charge a fee it will be a maximum of£500 or 1% of the loan amount whichever is greater. Typically this will be £299

Your home may be repossessed if you do not keep up repayments on your mortgage.