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Product focus: Fixed rate mortgages

Product focus: Fixed rate mortgages

Category: Mortgages

Updated: 03/03/2011
First Published: 03/03/2011

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Many mortgage lenders have increased the rates on their fixed rate deals recently.

With interest rates set to increase over the coming months, borrowers on variable rate deals may be best moving to a fixed product to avoid increases in rates and monthly repayments.

Here is a selection of some of the current best fixed rate mortgage products.

Santander – 2 Year Fixed

  • Santander's 2 year fixed rate at 2.79% to 02.05.13 offers first time buyers, second time and remortgage borrowers a loan-to-value of 60% (40% deposit required).
  • Customers can borrow between £6,000 and £250,000.
  • A booking fee of £1,995 is payable.
  • There is also the option to make overpayments of up to 10% of the outstanding balance.

Leek United Building Society – 3 Year Fixed

  • Leek United's 3 year fixed rate mortgage deal offers a rate of 3.75% to 31.03.14.
  • The deal has a maximum loan-to-value of 75% and customers can borrow between £30,000 and £500,000 (minimum 25% deposit required).
  • A fee of £995 is also payable. Incentives of a £250 rebate and a refund on valuation fees for properties valued up to £500,000 are offered to all borrowers.
  • Overpayments can be made of up to 10% of the mortgage advance.

first direct – 5 Year Fixed

  • This first direct mortgage deal offers a rate of 4.29% for 5 years.
  • The maximum loan-to-value is 65% and first time buyers, second time and remortgage customers can borrow between £10,000 and £1million (minimum 35% deposit required).
  • A booking fee of £1,499 is payable. Free legal fees are offered to remortgage borrowers and there is also the option to make overpayments.

Find the best mortgage rate - Compare best selling mortgages


Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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