Compare the Best Fixed Rate Mortgages | moneyfacts.co.uk

Compare the Best Fixed Rate Mortgages

  - Compare and search over 3,000 fixed rate mortgages to find the best rate for you.

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Compare the Best Fixed Rate Mortgages

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RateAPRCMortgage TypePeriodMax LTVERCSearch all
4993 mortgages
 

How long are you looking to fix?

 
 2 Year Fixed  

1.41% reverting to 4.99% 4.5% Fixed30/06/202065%To 30/06/2020Details...
Speak to an Adviser
 
  Product Fee: Completion £495 

1.46% reverting to 4.99% 4.5% Fixed30/06/202075%To 30/06/2020Details...
Speak to an Adviser
 
  Product Fee: Completion £495 

1.54% reverting to 3.94% 3.5% Fixed2 years75%1st 2 yrs Details...
Go to Site
 
  Product Fee: Booking £490, Upto £400000.00 Advance,Booking £980, £400001.00 - £800000.00 Advance,Booking £1470, £ 

1.59% reverting to 3.75% 3.5% Fixed02/07/202085%To 02/07/2020Details...
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  Product Fee: Booking £999 

1.64% reverting to 3.94% 3.5% Fixed2 years80%1st 2 yrs Details...
Go to Site
 
  Product Fee: Booking £490, Upto £400000.00 Advance,Booking £980, £400001.00 - £800000.00 Advance,Booking £1470, £ 

1.82% reverting to 4.99% 4.6% Fixed30/06/202090%To 30/06/2020Details...
Speak to an Adviser
 
  Product Fee: Completion £495 
  Representative example: £150,000 mortgage over 25 years initially at 1.59% fixed for 26 months reverting to a tracker rate of 3.75% variable for term. 26 monthly payments of £606.27 and 274 monthly payments of £757.09. Total amount payable £224,479.68 includes loan amount, interest of £73,206, valuation fees of £0 and product fees of £999. The overall cost for comparison is 3.5% APRC representative. 
  
 3 Year Fixed 

1.66% reverting to 4.99% 4.3% Fixed30/06/202165%To 30/06/2021Details...
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  Product Fee: Completion £495 

1.83% reverting to 4.04% 3.5% Fixed31/07/202175%To 31/07/2021Details...
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  Product Fee: None 

1.93% reverting to 4.04% 3.6% Fixed31/07/202180%To 31/07/2021Details...
Speak to an Adviser
 
  Product Fee: None 

2.18% reverting to 4.79% 4.3% Fixed01/07/202190%To 01/07/2021Details...
Go to Site
 
  Product Fee: Arrangement £995 

2.19% reverting to 4.74% 4.2% Fixed30/06/202185%To 30/06/2021Details...
Speak to an Adviser
 
  Product Fee: None 

2.49% reverting to 4.74% 4.3% Fixed30/06/202190%To 30/06/2021Details...
Speak to an Adviser
 
  Product Fee: None 
  Representative example: £150,000 mortgage over 25 years initially at 2.18% fixed for 38 months reverting to 4.79% variable for 46 months and 4.54% variable for term. 38 monthly payments of £649.01, 46 monthly payments of £833.01 and 216 monthly payments of £816.99. Total amount payable £240,733.68 includes loan amount, interest of £89,451, valuation fees of £188 and product fees of £995. The overall cost for comparison is 4.1% APRC representative. 
  
 5+ Year Fixed 

1.85% reverting to 4.99% 3.9% Fixed30/06/202365%To 30/06/2023Details...
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  Product Fee: Completion £1695 

1.99% reverting to 4.00% 3.3% Fixed5 years80%1st 5 yrs Details...
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  Product Fee: Booking £999 

2.09% reverting to 3.94% 3.3% Fixed31/08/202385%To 31/08/2023Details...
Go to Site
 
  Product Fee: Booking £999 

2.44% reverting to 3.99% 3.4% Fixed31/07/202390%To 31/07/2023Details...
Speak to an Adviser
 
  Product Fee: Arrangement £999 

2.49% reverting to 3.94% 2.8% Fixed10 years60%1st 10 yrs Details...
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  Product Fee: None 

2.94% reverting to 3.94% 3.2% Fixed10 years80%1st 10 yrs Details...
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  Product Fee: None 
  
  Sponsored Products  

1.49% reverting to 4.49% 4.1% Fixed30/06/202060%To 30/06/2020Details...
Go to Site
 
  Product Fee: Arrangement £1495 

2.18% reverting to 4.49% 4.1% Fixed30/06/202075%To 30/06/2020Details...
Go to Site
 
  Product Fee: None 

1.89% reverting to 4.49% 4.0% Fixed30/06/202060%To 30/06/2020Details...
Go to Site
 
  Product Fee: None 

1.93% reverting to 4.49% 4.0% Fixed30/06/202075%To 30/06/2020Details...
Go to Site
 
  Product Fee: None 

2.40% reverting to 3.99% 3.8% Fixed31/07/202060%To 31/07/2020Details...
Go to Site
 
  Product Fee: None 

1.84% reverting to 3.94% 3.7% Fixed2 years60%1st 2 yrs Details...
Go to Site
 
  Product Fee: Booking £490, Upto £400000.00 Advance,Booking £980, £400001.00 - £800000.00 Advance,Booking £1470, £ 

1.89% reverting to 3.94% 3.6% Fixed31/08/202060%To 31/08/2020Details...
Go to Site
 
  Product Fee: None 

1.49% reverting to 3.94% 3.6% Fixed31/08/202060%To 31/08/2020Details...
Go to Site
 
  Product Fee: Booking £999 

2.68% reverting to 3.99% 3.9% Fixed31/07/202060%To 31/07/2020Details...
Go to Site
 
  Product Fee: None 

2.54% reverting to 4.95% 4.6% Fixed30/06/202075%1st 2 yrs Details...
Go to Site
 
  Product Fee: None 

2.54% reverting to 4.95% 4.6% Fixed30/06/202075%1st 2 yrs Details...
Go to Site
 
  Product Fee: None 

1.84% reverting to 4.79% 4.4% Fixed01/07/202065%To 01/07/2020Details...
Go to Site
 
  Product Fee: None 

1.85% reverting to 4.49% 4.0% Fixed30/06/202170%To 30/06/2021Details...
Go to Site
 
  Product Fee: Arrangement £1495 

1.69% reverting to 3.94% 3.5% Fixed31/08/202160%To 31/08/2021Details...
Go to Site
 
  Product Fee: Booking £999 

2.29% reverting to 4.95% 4.4% Fixed30/06/202190%1st 3 yrs Details...
Go to Site
 
  Product Fee: Arrangement £999 

2.29% reverting to 4.95% 4.4% Fixed30/06/202190%1st 3 yrs Details...
Go to Site
 
  Product Fee: Arrangement £999 

3.09% reverting to 3.99% 3.7% Fixed31/07/202360%To 31/07/2023Details...
Go to Site
 
  Product Fee: None 

2.43% reverting to 4.49% 3.8% Fixed30/06/202360%To 30/06/2023Details...
Go to Site
 
  Product Fee: None 

2.09% reverting to 3.94% 3.3% Fixed31/08/202360%To 31/08/2023Details...
Go to Site
 
  Product Fee: None 

3.39% reverting to 3.99% 3.8% Fixed31/07/202360%To 31/07/2023Details...
Go to Site
 
  Product Fee: None 

2.94% reverting to 4.95% 4.2% Fixed30/06/202375%1st 5 yrs Details...
Go to Site
 
  Product Fee: None 

Representative Example: £150,000 mortgage over 25 years initially at 2.44% fixed for 63 months reverting to a tracker rate of 3.99% variable for term. 63 monthly payments of £668.40 and 237 monthly payments of £766.76. Total amount payable £224,960.32 includes loan amount, interest of £73,831, valuation fees of £0 and product fees of £999. The overall cost for comparison is 3.5% APRC representative.

Moneyfacts.co.uk Best Buys show the best products chosen by our independent experts. Where we have been able to we have also provided a link for you to apply via Moneyfacts.co.uk today. Products shown with a yellow background are sponsored products.

Disclaimer: Credit will be secured by a mortgage on your property. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Written quotations are available from individual lenders. Loans are subject to status and valuation and are not available to persons under the age of 18. All rates are subject to change without notice. Please check all rates and terms with your lender or financial adviser before undertaking any borrowing.

 

Fixed rate mortgages may seem simple at first glance, but it's still worth brushing up on how they work, and the things to be aware of if you're considering one.

On this page:

  1. What is a fixed rate mortgage?
  2. How does a fixed rate mortgage work?
  3. Advantages and disadvantages of fixed rate mortgage
  4. What to do when you're coming to the end of a fixed rate mortgage
  5. How to find the best fixed rate mortgage

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, typically anything from a year to 10 years. After the fixed rate period ends, your mortgage will go onto a variable rate – normally a tracker rate or your lender's Standard Variable Rate - which won't give you the same kind of guarantee


How does a fixed rate mortgage work?

During the fixed rate period your payments will remain the same, regardless of what variable mortgage interest rates do.

So, while you're protected if rates go up, you could also end up paying over the odds if interest rates fall during the fixed rate period.

Fixed rate mortgages also normally have an Early Repayment Charge if you want to remortgage or repay your mortgage in full during the initial fixed rate period.

That said, most fixed rate mortgages will allow you to make overpayments, typically up to 10% of the outstanding balance per year.


Advantages and disadvantages of fixed rate mortgage

You know exactly what your mortgage payment will be for a set period The best fixed rate mortgages often charge a high arrangement fee
If interest rates go up, your payments won't If interest rates go down, your payments won't – so you could pay more than the prevailing rate
Your mortgage is likely to be your biggest monthly outgoing. Knowing what you're going to be paying allows you to budget and plan your finances with more certainty If you want to repay your mortgage early, or remortgage during the fixed rate period, you may have to pay an Early Repayment Charge


When the fixed rate period ends you'll go onto a variable rate. Depending on the interest rate climate, this could mean that your payments suddenly jump (although you can remortgage to a different lender, or arrange a new mortgage deal with your existing lender to save money)

What to do when you're coming to the end of a fixed rate mortgage

Up to six months before the end of your fixed rate period, start looking at the best mortgage deals available to see if you can save money. When your fixed rate ends, you'll go onto your lender's Standard Variable Rate or a tracker rate. These don't offer the same payment security as a fixed rate, and, depending on the interest rate climate, could mean that your payments make a sudden jump.

On the flipside, it can sometimes be the case that the variable rate you go onto is lower than the fixed rate you've been paying. While this may come as a pleasant surprise, remember that if rates go up so will your repayments – you could end up paying a lot more than if you had remortgaged to another fixed rate. If you do decide to stay on a lower variable tracker or standard variable rate, consider keeping your monthly mortgage payment the same. This overpayment will reduce the term of your mortgage more quickly.

Alternatively, you can set the wheels in motion for a remortgage several months before your fixed rate period comes to an end. Then you would simply wait until the fixed rate period finishes (to avoid any Early Repayment Charges) to transfer your remortgage to a new fixed rate


How to find the best fixed rate mortgage

If you've decided that a fixed rate mortgage is preferable to a variable or tracker mortgage, there are still a few things you need to consider while choosing a mortgage. Primary:

The mortgage rate

This will be determined by the size and value of the property you're looking at, as well as your credit score and the size of your deposit. Typically, the more money you can put down for a deposit, the better your mortgage rate will be since you present less of a risk to the lender. As such, you may find that you're better off saying more money for a larger deposit than choosing a mortgage with a lower fee.

Be aware of any hidden fees. Mortgages with particularly low rates may look attractive, but some of them come with expensive arrangement fees which may undo any benefit you would enjoy from the lower rate.

Fees

As always, you must read the small print on the terms of your mortgage. There will be fees! Sit down and calculate how much you will be charged at the beginning and end of your mortgage. It's also worth finding out how much you will be charged if you need to cancel. Even if you never do it, it's better to have a back up plan. Work out the full cost of your mortgage including fees when you compare rates.

Use our best buy tables to find the highest rated fixed rate mortgages across the whole of the market, or speak to our preferred independent mortgage adviser:

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