Fixed Rate Mortgages / Remortgages
These are mortgages with a fixed interest rate for a certain period of time. The main advantage of a fixed rate remortgage is that you have the certainty of knowing what your mortgage payments will be during the fixed rate remortgage period. Fixed rate mortgages are typically available for 2 years, 5 years and 10 years. These types of mortgages are most suitable for people who want to know exactly how much they will be paying each month and want protection from rising interest rates. The drawbacks however is that if interest rates fall, then the rate will still remain fixed for the mortgage period. After the fixed rate mortgage period, borrowers normally revert to a standard variable rate mortgage. Mortgage interest rates are going up hence a fixed rate mortgage is an excellent option for people looking for a remortgage or a first mortgage.
Fixed rate mortgages/remortgages are excellent if you have a fixed income and have a budget for the next few years.
At Go Remortgage, we have a whole range of fixed rate mortgage deals on offer and our experienced FSA regulated mortgage advisors will work with you to get a fixed rate mortgage deal in place that accommodates your deposit and monthly budget. To get a rough estimate on how much you will be paying each month try our Remortgage Calculator.
To find the range of fixed rate mortgages/remortgages and to discuss your individual circumstances, why not speak to one of our experienced FSA regulated mortgage advisors where they will provide you with a range of options and also provide you with free advice on your next step at no obligation.
Fixed rate remortgage are the most popular remortgage types together with variable rate remortgages. With a fixed rate remortgage you can be sure that during the term of the remortgage your interest rate will remain fixed at that rate. This is an excellent option when interest rates are rising and you want to plan your monthly budget.
