Fixed Rate Mortgage

Introduction

With a fixed-rate mortgage, your interest rate—and your monthly repayments—stay the same for a set period, no matter what happens to market rates. Whether the Bank of England or your lender raises or lowers rates, your payment remains unchanged.

Why choose a fixed-rate mortgage?

The biggest benefit is certainty. You’ll always know exactly how much your repayments will be each month, making it easier to budget with confidence.

Things to consider:

• Fixed-rate mortgages often have higher interest rates compared to other mortgage types.
• There may be an arrangement fee to secure your fixed-rate deal.
• When the fixed-rate period ends, your mortgage typically reverts to the lender’s Standard Variable Rate (SVR).

Is it the right choice for you?

Fixed-rate mortgages are ideal if you value stability and want to protect yourself from potential interest rate rises. They offer peace of mind but may come with slightly higher upfront costs.

At Maplestone, we’re here to help you weigh the options and find the perfect deal for your situation.

Want to know more?

Get in touch today, and let’s find the right mortgage for you!