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Fixed rate mortgages

Fixed rate mortgages

Keep on track with set, regular payments

Fixed rate mortgages can be a great way to plan ahead or work to a budget. You pay exactly the same amount each month for the fixed rate term.

What you need to know

Benefits

  • Know in advance how much you’ll pay each month during the fixed-rate period
  • Your payments won’t be affected if the Bank of England Base Rate goes up during your fixed rate period
  • The interest rate on your mortgage doesn’t change for a set period of time - when  this ends you switch to our Follow on Rate.1

Things to consider

  • Additional fees apply to early repayments
  • If the interest rate rises or falls during your fixed rate period, you’ll continue to pay the same amount
  • We’ll assess your financial circumstances before we decide whether or not to lend to you.

Rates and fees

Repayment options available

Capital repayment

You pay capital and interest throughout the term, reducing the amount owed in conjunction with paying off interest. The mortgage will be paid off in full when the term ends.

Interest only

Your monthly payments only cover the interest on the mortgage. At the end of the term, you’ll still owe the amount you originally borrowed, and you’ll have to repay it in full.

Please note

Your home may be repossessed if you do not keep up repayments on your mortgage.
Your investment property may be repossessed or a receiver of rent appointed if you do not keep up payments on your mortgage.

Remember that where the mortgage is denominated in a currency other than your home currency, changes in the exchange rate may increase the equivalent value of the debt in terms of your home currency.

You may also be interested in

Tracker rate mortgages

Tracker rate mortgages

Variable payments for more flexibility

Tracker rate mortgages are linked to the Bank of England Base Rate. As it's linked to a variable rate your monthly payments may go up as well as down.

Mix and match mortgages

Mix and match mortgages

The best of both worlds

A mix and match mortgage allows you to split your home loan and combine the security of a fixed rate mortgage with the flexibility of a tracker mortgage.