Fixed rate security
Fixed rate mortgages can help your clients who like the security of knowing what their monthly repayments will be.
- With a fixed rate mortgage the monthly repayments stay the same for the duration of the fixed rate period
- This means that payments will not change whether the Bank of England Base Rate goes up or down
All our fixed rate mortgages are true term products.
- This means that if your client’s completion date is delayed, their mortgage will still run the full 2/3/5/10 year deal period
- So, if your client completes on 7 August 2015 they will make 24/36/60/120 monthly payments and revert to our Standard Mortgage Rate on 1 September 2017/2018/2020/2025
NB: At the end of the fixed rate period your client will automatically move to our Standard Mortgage Rate (SMR). The SMR is currently 3.74% and has no upper limit or cap.