What is a fixed rate mortgage?
With a fixed rate mortgage, the interest rate of the mortgage remains the same for a period of time – often 2 years, but can be longer.
What is a fixed rate mortgage?
With a fixed rate mortgage, the interest rate of the mortgage remains the same for a period of time – often 2 years, but can be longer.
In recent years, the Government has tried to stimulate interest in long-term fixed rate mortgages, but borrowers’ habits indicate that they prefer not to be tied in to their mortgage for too long. The fixed rate mortgage is favoured by those who like to know exactly what they are paying each month.
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close panel
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Lender
|
Initial rate
|
Subsequent Rate
|
Overall cost for comparison (APR)
|
Mortgage type / term
|
Early repayment charges
|
Max % LTV
|
Fee
|
|
HSBC
|
3.94
|
3.94
|
4.00
|
Fixed until 30/09/2011
|
2% in term. Then 1% for 1 year
|
75
|
£0
|
|
Alliance & Leicester
|
3.99
|
4.99
|
5.00
|
Fixed until 30/09/2011
|
3% for 2 years
|
70
|
1%
|
|
HSBC
|
4.09
|
3.94
|
4.00
|
Fixed until 30/09/2011
|
2% in term. Then 1% for 1 year
|
75
|
£0
|
|
Marsden
|
4.99
|
5.49
|
5.60
|
Fixed until 31/07/2011
|
3% for 2 years
|
80
|
£998
|
|
HSBC
|
5.99
|
3.94
|
4.40
|
Fixed until 30/09/2011
|
2% in term. Then 1% for 1 year
|
90
|
£999
|