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Product focus: Fixed rate mortgages

Product focus: Fixed rate mortgages

Category: Mortgages

Updated: 27/11/2017
First Published: 23/11/2010

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 It is now over 6 months old so the content may be out of date.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 borrowers have been taking advantage of the historical low interest rate by choosing, or remaining, on deals which track base rate. Whilst financial experts continue to speculate as to when interest rates will rise, some wary borrowers are choosing fixed rate deals as a 'safer' mortgage option. Here is a selection of the current best fixed rate mortgage products which require a deposit of 15% or more.

Post Office – Two year fixed rate mortgage

This mortgage deal, available to first and second time buyers and remortgage customers offers a rate of:

  • 3.94% fixed until 31 December 2012
  • Applicants can borrow up to 85% of the property value and the minimum advance is £25,001.
  • The product also has an arrangement fee of £995. There is also the option for borrowers to make overpayments.

Norwich & Peterborough Building Society – Three year fixed rate mortgage

This product offers a rate of :

  • 3.94% for three years for borrowers residing in England and Wales.
  • The maximum loan to value is 85% and borrowers can make a minimum advance of £20,000. A fee of £995 is payable.
  • The deal also offers borrowers flexibility with overpayments, underpayments and payment holidays.

Leeds Building Society – Five year fixed rate mortgage

This five year fixed rate mortgage from Leeds Building Society offers a rate of:

  • 4.99% until 31 January 2016 with a maximum loan to value of 85%.
  • The minimum advance for first time and second time buyers is £5,000 and for remortgage customers it is £25,001.
  • A fee of £199 is payable. First time and second time buyers can enjoy the incentive of a free valuation, up to £335, while those remortgaging will receive free legal fees.
  • There is also the option to make overpayments.
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 Any products featured may be withdrawn by their provider or changed at any time.