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Fixed Rates
Fixed rate mortgages have their interest rates set
for a certain period of time, which can be from one to ten years, after which time the
rate will revert to the variable rate.
Generally speaking, the shorter the term of the
fixed rate mortgage, the lower the interest rate and vice versa.
Fixed rate mortgages have become very popular over
the years due mainly to the vast changes in interest rates we have seen.
A fixed rate mortgage can give peace of mind because
the borrower knows exactly what their repayments will be over a period of time.
One disadvantage is that, should you decide to move
your mortgage or remortgage during or shortly after the
fixed rate period, you will normally be subject to early
redemption penalties which can be equal or more than the
benefit you have received.
Looking for a Fixed Mortgages 1 - 10 years!
With Fixed rate mortgages this means you know where you stand with your monthly repayments during the fixed rate period, whatever happens to interest rates in general. This enables you to budget with confidence. West Bromwich can offer a range of fixes ranging from 1 year to 10 years.
Need help finding best fixed rate mortgage? Let our financial team find the best mortgage deals for you from our panel of lenders
Our advisers are on hand to help, please use our enquiry forms
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