Fixed Rate Mortgages


The most popular mortgage in the UK is a 'fixed rate mortgage'- with all the uncertainty going around with Brexit, potential interest rate hikes, employment and so on - fixing your interest rate has become very popular.

Fixed Rate Mortgages South Coast

What is a Fixed Rate mortgage?

We are only talking about the interest rate here. The capital repayment aspect is ‘always' 'fixed depending on the length of the term. Remember – if you qualify for interest only – you will pay zero off on tour capital and but if you have a more conventional ‘term' then it is easy to calculate.

How long should I get a Fixed Rate mortgage for?

At the very least - you should find out what the rates are. The cheapest rates are always for a 'two-year fixed', but you might be surprised - the rate doesn't currently go up 'that' much if you fix the rate for a longer period! Most lenders will fix rates between two and five years.

How can I choose the right Fixed Rate Mortgage?

The Devil is in the detail = always – but as a first off – you start with the best interest rate out there.

Is a Fixed Rate mortgage for me?

Remember - a fixed rate mortgage is only about 'fixing' the interest rate -so you could still pay off your capital on a mortgage in all sorts of ways - or not at all - if you had an interest only mortgage. Make sure you speak with Bram directly if you are thinking about this.

Some of our best current Isle of Wight mortgage deals:*

What happens when my Fixed Rate Mortgage ends?

You have to do nothing at all when the Fixed Rate ends. Every lender will happily charge you a lot more as your mortgage is pushed from a fixed rate to the Standard Variable Rate of the lender or Bank.

Frequently Asked Questions: 

What is a fixed rate mortgage?

A fixed rate mortgage is simply a means of guaranteeing your mortgage payment over a set period. Fixed rates are for an initial period, and then typically from 1 - 5 years.

Can I use a comparison website to do the same for me?

No. Of course, you would expect us to say no, but we do so with very good reason. Although these basic search engines can be very useful for completing some initial self research, they can never be as sophisticated as the specialist whole of market search engines designed and used by any broker.

What if I lose my job/find it difficult to pay my mortgage?

The first thing that you should do is to contact your lender - in all circumstances - immediately - and let them know what is going on. There are all sorts of things that they 'may' be able/be prepared to do - a payment holiday for a month or 2 or 3, a switch to a temporary 'interest only' payment if you have a repayment mortgage, you might be able to claim under the Protection Product that you have - there are all sorts of things that can be done - starting with talking to your lender.

Where can I find more information?

Please visit our FAQ page here or contact Bram directly and/or get a confidential & professional call back from Bram here.

Call Bram Vis now...

London West End office:

020 7504 1090

Isle of Wight office:

01983 642 643