Britannia mortgages - borrowers with mortgage uncertainty could get a good deal.

With uncertainty mounting in the mortgage market moving to a Britannia mortgage with a two year fixed rate is currently being seen as a wise deal.

A two year fixed rate Britannia mortgage has a current rate of 3.39 per cent fixed until June 2014 when it reverts to the SVR which is currently at 4.24 per cent. This mortgage is available for those borrowers with LTV (loan to value) 75% and has a set up fee of £999.

Many homeowners are facing higher mortgage payments in the wake of lenders SVR (standard variable rate) rises and some with interest only mortgages are facing worries about repaying their capital loan.

Many lenders are waiving fees to help interest only mortgage customers switch to a repayment product as the Financial Services Authority released figures that show many customers with these type of mortgages face a crisis in being unable to pay the capital part of their mortgage.

Recently with the impending SVR rises and other lenders possibly following suit borrowers are keen to be able to budget more easily with a fixed rate mortgage where their repayments will not change during the fixed rate period.

The Britannia offers many mortgage products with varying features, benefits and fee options. The rate offered will depend on the homebuyers deposit and therefore the loan to value they require.

Another Britannia mortgage on offer is their five year fixed rate deal. It has an initial rate of 3.39 per cent until June 2017 when it reverts to the SVR which is currently at 4.24 per cent. This mortgage product is for mortgages of 75 per cent LTV and also has a fee of £999.