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| Related Information |
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Discounted mortgages |
Self cert mortgage advice |
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| The fixed mortgage option for a self cert mortgage |
Fixed mortgages are ideal for people who want to know exactly how much they will have to pay at the end of each month for the next year or so. The mortgage type allows you fix your monthly repayments for a certain time period.
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Free Mortgage Advice
With over 1500 mortgages to chose from and a team of expert mortgage brokers will help you find the right mortgage for you. Enquire now and get the best rates available.
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Advantages and disadvantages |
The advantage is that you know exactly how much you need to set aside for your mortgage repayments during the next few years. This would help towards financial planning if you have a family or have other short loan repayments. If the base rate was to increase your monthly mortgage repayments would not be affected at all (during the fixed rate period).
The disadvantage of a fixed rate mortgage is that if the base rate is low and remains low for a great length of the time period, you will find yourself paying out far more on your mortgage repayments than a standard variable or discounted mortgage.
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How long is the fixed period? |
The period can vary from different lenders offering different packages but are normally between six months to five years. To get the best deals look at fixed rate mortgages that offer a time period of one to three years.
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| What happens after the fixed period is over? |
Once your fixed period has ended you would pay monthly repayments according to the base rate set by the bank of England . You might find your repayments to be more than your fixed rate price or less depending on the base rate.
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| More Information |
Tracker mortgage option
Information and guides to taking out a tracker mortgage.
Buy to let mortgages
Thinking of buying property to rent out? Read our guides to remortgaging your existing property.
Mortgage advice
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Remortgage's
Need help in applying for a remortgage? read our remortgage guide filled with useful information outlining the pros and cons of the mortgage option.
100% mortgages
Ideal mortgage option for first time buyers who do not have a deposit.
Discounted mortgages
Find out the best discounted rates available from the UK's leading lenders.
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