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Product focus: Fixed rate mortgages

Product focus: Fixed rate mortgages

Category: Mortgages

Updated: 17/12/2012
First Published: 10/03/2011

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The Bank of England Monetary Policy Committee has voted to keep interest rates on hold for the 24th consecutive month. With base rate anticipated to rise over forthcoming months, customers on a tracker rate mortgage may want to look for a fixed rate deal which offers the reassurance of fixed monthly repayments in the event of interest rate rises. Here is a selection of some of the best fixed rate mortgage products.

Santander- 2 Year Fixed Rate

  • Santander's two year fixed rate mortgage offers a rate of 2.79% to 2.5.13.
  • The maximum loan-to-value is 60% and 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.

Halifax– 3 Year Fixed Rate

  • This three year fixed deal offers a rate of 3.75% to 31.5.14.
  • Customers can borrow up to 60% of the property value.
  • An arrangement fee of £995 is payable, plus a completion fee of £245.
  • The product also offers a range of flexible features, including the options to make overpayments of up to 10% of the outstanding balance, underpayments and to take payment holidays.

Cumberland BS – 5 Year Fixed Rate

  • This product offers house purchase customers a rate of 4.44% until 1.4.16.
  • The maximum loan-to-value is 60%, although borrowers residing in Cumbria, Dumfriesshire, North Lancashire and West Northumberland can borrow up to 75% of the property value.
  • An arrangement fee of £599 is payable. Overpayment can also be made, up to a maximum of £5,000 per year.
Find the best mortgage for you - Compare fixed rate 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 Any products featured may be withdrawn by their provider or changed at any time.