Jason Bailey

Experly compared by Jason Bailey

Products Updated May 9, 2018

Fixed Rate Mortgages

View and compare the best fixed rate mortgages from a wide range of lenders on the market. If you are specifically looking for a great fixed rate mortgage deal then we can help find you the best rates from a wide range of mortgage lenders, banks and building societies.

Free mortgage advice and brokerage service. Our experts can find you the perfect deal from thousands of products & exclusive deals:

Your home may be repossessed if you do not keep up repayments on your mortgage.

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All credit types
Rated 5.0/ 5

Life's Great Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

LTV
60% - 100%

Initial Rate
1.19% - 4.32%

Standard Rate (SVR)
3.94% - 4.79%

APRC
3.6%

Type
Variable & 3 ,5 & 10 Fixed Rate

Life's Great provides a fee free mortgage advice and comparison service. They use technology to simplify the mortgage process and to provide quotes faster without complicated questions. Their broker service is completely free to use. Click Get A Quote for a personal illustration.

What is a fixed rate mortgage?

Fixed rate mortgage deals

Fixed rate mortgage deals

A fixed rate mortgage is a type of mortgage whereby the interest rate that you pay is fixed over a set term. For example the interest rate could be fixed for 2, 3, 5 or even 10 years. After the fixed rate term is over the mortgage then reverts to your lenders standard variable rate (SVR) mortgage that tracks the Bank of England base rate (BOE). Standard variable rate mortgages can go up or down in cost with changes in the BOE base rate fluctuations.

Why do people choose fixed rate mortgages?

Fixed rate mortgages provide a period of certainty and peace of mind for the borrower that the cost of the mortgage will not rise or fall for the fixed rate period they have chosen.
This allows families to budget for their home expenses and costs knowing that the cost of their mortgage isn’t going to change within the fixed period. Some people choose a fixed rate deal to “lock in” a fixed interest rate for a period of time if they feel that the interest rates are going to rise in the near future. This then provides potentially a cost saving and knowing that they will not be susceptible to future rate rises.

What are the disadvantages of a fixed rate mortgage?

In the event that interest rates where to fall within this period you would not benefit as you will be stuck with a fixed rate. There is also likely to be higher set up charges and higher early redemption charges if you were try and pull out of your mortgage before the end of the fixed term.

Fixed rate deals

Fixed rate deals are available on a whole range of mortgages, from fixed rate buy to let mortgages, interest only and capital repayment mortgages. Every UK mortgage lender provides a range of fixed rate mortgage products to choose from.

How can I get more advice?

Mortgage brokers have an indepth knowledge of the market

Mortgage brokers have an indepth knowledge of the market

If you are unsure what is the best type of mortgage for you then speak to one of our expert mortgage brokers here on the website. They will be able to explain all the options that are open to you and will help to answer any questions or concerns you may have. Our mortgage comparison tools find and display all the fixed rate deals in the market.

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