Repayments stay the same no matter what the standard rate is during the fixed period stated when taking out the mortgage.

The discount period on the mortgage can range from six months to ten years. In some cases you might be able to find a lender who is offering a longer period of discount.

It's a mortgage ideal for first time buyers and anyone who has to keep a budget of monthly out goings.

It's a worth while option if you think the interest rates would go up in the near future.

Early redemption fees can be high if you are to change or repay your mortgage off early, before the mortgage term finishes.

You can still be tied into high standard rates once the discount period has expired. Always look at the mortgage policy before committing to any type of mortgage.

If you would like more information on fixed rate mortgages and their advantages and disadvantages contact our brokers today by filling in our online enquiry form.~