Fixed rate mortgages find favour

Now is the time to future proof your mortgage payments against potential interest rate rises with a fixed deal.

The Bank of England has given its biggest hint yet that it may raise the interest rate sooner rather than later. The next interest rate announcement is due on Thursday 22nd March 2018, so there is a window of opportunity between now and then to lock in to a great fixed-rate mortgage.

With interest rates settled for such a prolonged period of time, you'd be forgiven for losing track of the Bank's activity but if you already have a mortgage or are thinking of taking out a home loan to buy your first property, it's time to start taking notice and consider how a rate rise could affect your mortgage.

Our independent financial advisors will be happy to explain the impact any potential rise could have on your personal finances. There is an advisor available in every office and they often have same-day appointments so you can get the advice you need quickly and in person. Mark Alexander, the Managing Director at independent mortgage advisors MortgageFind, says: "If you're not currently on a fixed rate deal, any adjustment to the interest rate could affect your monthly repayment. The good news is there is a healthy amount of competition among lenders and some are holding off increasing the rates on their fixed deals for as long as possible, to the benefit of borrowers."

If you like a sense of financial security, it's a great time to investigate fixed-rate mortgages. There are some incredible sub 2% five-year fixed rate loans - with borrowers knowing what their monthly repayment will be for the next 60 months or more. Our independent advisors have access to what we call the 'whole market' - that means mortgages from all lenders, including High Street banks, niche lenders, internet-only providers and exclusive offers only available to finance specialists. 

Fixed-rate mortgages available include 2, 3, 5 and even 10 year deals, so make an appointment today to explore the options. Just an hour with one of our advisors will help you future-proof by fixing in.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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