A Guide to Fixed Rate Remortgages
If your current mortgage deal is about to end, it may be time to consider a fixed rate mortgage.
With a fixed rate mortgage, your interest rate is locked in for a set period of time. This means that you’ll pay the same amount each month for the duration of your mortgage term. This is generally 2,3 or 5 years but can be up to 10 years.
Most customers choose a fixed rate mortgage because:
- It provides peace of mind knowing exactly how much your monthly payment will be.
- A fixed term deal offers protection against potential interest rate increases.
- Once you’ve locked in a fixed rate, you can focus on other things without worrying about your mortgage for a while.
A fixed term mortgage might not be right for everyone. By speaking to an expert mortgage adviser like us, we can talk you through all the options including tracker mortgages.
We can guide you through the process including how fixed rate mortgages work. We will walk you through the various term lengths and help you determine if it’s the option for you. We’ll scour the market for the right deals from multiple lenders, handle the paperwork, and save you valuable time, money, and stress.
Contact us today to get the ball rolling. You can lock in a rate up to six months in advance so let us do the hard work for you.
There is no guarantee that it will be possible to arrange continuous letting of the property, nor that rental income will be sufficient to meet the cost of the mortgage.
YOU MAY HAVE TO PAY AN EARLY REPAYMENT CHARGE TO YOUR EXISTING LENDER IF YOU REMORTGAGE.
Your property may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
Things to think about when moving to a fixed rate
There are a number of things you need to think about before you take steps to fix your rate. We will talk you through all of these and ensure you are clear on all the risks and benefits before you proceed. We can also help you if you are looking to fix a Buy to Let mortgage.
Some of the things you should consider with a fixed rate remortgage are:
- Would you incur any charges if you moved your mortgage?
- Would you get a better deal if you stayed with your current lender?
- Can you afford additional mortgage payments?
- What additional risks would you incur if you increase your payments or mortgage term?
As an experienced remortgage broker, we’ll talk you through your options. We are based in Salisbury, but we can help you no matter where you live in the UK. We have access to over 12,000 mortgages from more than 90 lenders, some of which are not available directly.
We don’t charge for an initial consultation, so by speaking with us, you won’t be under any obligation. To find out more about our services and how we operate, visit our About Us section or Meet the Team.
How we work
- Personalised, hard working service
- Search 1000s of deals from multiple lenders
- Detailed research to ensure you save money
- Take care of the paperwork to minimise stress
- By your side from application to completion
- The experience to get a good result for you
Why choose us?
We are not like other brokers. Our small, friendly team has over 80 years of experience in the mortgage and protection industry.
We have over 100 five star reviews on Google and over 90 verified reviews on VouchedFor. And we would love to work hard for you.
To speak to a member of the mortgage advice team about your Fixed Rate Remortgage ring Your Mortgage Expert now on 01722 322683. Or complete a contact form using the link below.
Meet the team
Our small, friendly team is based in the heart of Salisbury, Wiltshire. But we can help you no matter where you live in the UK. Sometimes it’s nice to put a name to a face. So if you want to find out more about us, visit our Meet the Team page.
Our team has:
- Over 80 years of experience in the mortgage and protection industry
- All members of our customer facing team have mortgage qualifications
- We have over 100 five-star reviews on Google
- Have helped hundreds of people fix their mortgages
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Email DanDan Harris - Mortgage Adviser
Dan Harris first started working in mortgages in 2004. Since then, he has helped lots of people remortagage. Dan has great attention to detail and will do the hard work to ensure you get the best recommendation. -
Email AdamAdam Nanson - Managing Director
Adam Nanson has worked in the Mortgage Industry for over 20 years. His friendly approach will mean you'll understand the complicated bits and cut through the jargon. Adam has particular expertise with self employed and contractors.