Fixed rate Mortgages

Here, the interest rate you pay remains the same for a set period of time, so your mortgage repayments will remain the same, even if interest rates rise. This type of mortgage is often available as two, three or five-year deal, and gives you the peace of mind of knowing what your repayments will be for the duration of the fixed term.

If you choose a fixed-rate mortgage, you will need to think about arranging your next mortgage deal a few months before it ends, as when it does, you’ll be moved onto your lender’s Standard Variable Rate (SVR), which generally means you’ll be charged a higher rate.

As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments.

  • A fixed rate mortgage means your repayments have a fixed interest rate for a period of time
  • Therefore you will pay off the same amount each month for the entirety of your introductory deal
  • Your introductory deal on a fixed rate mortgage is usually 2 to 5 years
The interest rate may be higher compared to other mortgage types
You pay the same amount of interest each month over the duration
With a fixed rate mortgage there can be limitations to making overpayments


JAMme works across the whole market to find the right mortgage for you.