Fixed-rate mortgage
Mortgages & secured lendingA mortgage with a fixed interest rate for a set period.
Overview
Fixed rates give predictable payments for the agreed term.
After the fixed period ends, you usually move to SVR unless you remortgage.
Why it matters
- It protects against rising rates.
- It makes budgeting easier.
- It may include early repayment charges.
FAQs
Can I leave a fixed rate early?
Often yes, but you may pay early repayment charges.
Is a fixed rate always cheaper?
Not always, but it provides certainty.
Related terms
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