Lenders best fixed rate mortgage deals offer peace of mind.

Some lenders are cutting their best fixed rate mortgage deals despite rising funding costs, which is offering home-owners an increased level of security.

Fixed rate mortgage deals are in general one of the most popular mortgage types, with 2 year fixed rate deals currently being the most popular of all. A fixed rate offers peace of mind for those home-owners who prefer to know exactly what their repayments will be each month. With rising living costs this can prove invaluable.

Lenders best fixed rate mortgage deals are appealing to risk averse home-owners who prefer not having to worry about what the base rate and mortgage rates are likely to do.

Most fixed rate deals are for 2, 3 or 5 years, however some 7 year terms are offered for NewBuy mortgages from lenders such as Abbey, and lenders such as National Counties and the Co-operative offer 10 year fixed rates.

Typically the longer the term the higher the rate offered, which is why 2 year fixed deals have proved so popular, it is estimated that around a third of all mortgage deals on offer are for a 2 year fix.

However with threats of rising mortgage rates and a base rate rise predicted anywhere from 2013 to 2017, depending on who you talk to, a longer term fixed deal could prove more advisable as it limits remortgaging costs.

Recently Nationwide, Barclays and the Yorkshire Building Society have all cut the cost of their fixed rate mortgage deals which have been reduced by between 0.1% and 0.3%.

For the most competitive fixed rates on offer contact Deal Direct.

If you are looking to compare the best fixed mortgage rate offers call Deal Direct today.