Getting the best fixed rate mortgage deal.
If you want security and peace of mind, a fixed rate mortgage could be the way to go. With a fixed rate deal you know exactly what your monthly repayments will be for the mortgage term agreed.
Regardless of interest rate changes and mortgage rate fluctuations, with a fixed rate mortgage there are no nasty surprises. Your rate will not go up unexpectedly, you will not need to pay more each month that the fixed repayments agreed at the start of your deal.
Fixed rate mortgages allow for better financial planning and budgeting, you know exactly what you are required to pay out.
Security and peace of mind does come at a cost however, and fixed rate mortgages tend to be set at a premium. While rates offered were once significantly higher than tracker and variable rate deals this is no longer the case.
Since the release of the funding for lending scheme in August 2012, lenders have dropped their fixed rates to such a level that 2 year fixes are at similar levels to trackers, and 5 year fixed rates aren't far behind.
If you want to work out whether a fixed rate mortgage or tracker would best suit your needs speak to an independent mortgage expert for impartial advice.
Call independent 'whole of market' broker Deal Direct and let us find you a competitive low rate mortgage offer.
Call 0800 048 8828 and speak to an adviser today.
