Mortgages · Fixed Rate
Know exactly what you'll pay, for as long as you fix.
A fixed rate mortgage keeps your interest rate — and therefore your monthly payment — the same for an agreed period, typically 2, 3, 5 or 10 years, regardless of what happens to interest rates generally. Most residential mortgages in the UK are fixed rate for exactly this reason: certainty.
Choosing how long to fix for
The right length of fix depends on your circumstances as much as the rates on offer. Shorter fixes (2 years) often carry lower headline rates but mean remortgaging again sooner — and paying any associated fees again. Longer fixes (5 or even 10 years) typically cost a little more but protect you from rate rises for longer and reduce how often you need to go through the remortgaging process.
It’s also worth checking whether a deal includes an early repayment charge if you need to exit before the fix ends — relevant if there’s a reasonable chance you might move home, need to raise further funds or want to overpay significantly during the fixed period.
Who this is for
- Wanting a predictable, unchanging monthly payment
- First-time buyers budgeting carefully
- Households on a fixed or tight monthly budget
- Anyone who prefers not to track interest rate movements
- Comparing 2-year vs. 5-year vs. longer fixes
- Remortgaging off a deal that's ending
How it works
Tell us your priorities
How long you want certainty for and how that fits your wider plans (e.g. likely to move again soon?).
Compare fix lengths
Shorter fixes are often cheaper but need renewing sooner; longer fixes cost more but lock in certainty for longer.
Lender and rate matching
We search the market for the right combination of rate, fees and terms for your situation.
Application to completion
Your adviser manages the case through to your new rate starting.
Common questions
- When your initial fixed-rate period ends, your mortgage moves onto the lender's Standard Variable Rate (SVR) unless you remortgage or switch to a new deal. SVRs are typically significantly higher than the rates available on current fixed deals — most borrowers should arrange a remortgage in the months before their deal expires to avoid an automatic increase in payments.
- It depends on your circumstances, your plans and the rates available at the time. A 2-year fix typically means lower upfront rate risk but requires remortgaging sooner and paying arrangement fees again. A 5-year fix locks in certainty for longer but ties you to one rate — if rates fall significantly during the period, you won't benefit. Your adviser will work through both options in the context of current market rates.
- Most fixed-rate mortgages allow annual overpayments of up to 10% of the outstanding balance without triggering an early repayment charge. Anything above that threshold may incur an ERC. The specific terms vary by lender and product — worth checking before making large one-off payments.
- An early repayment charge (ERC) is a fee charged if you repay your mortgage, move to a different lender or switch products before your fixed-rate period ends. ERCs are typically expressed as a percentage of the outstanding balance — often 1-5% in the early years of a deal, reducing each year. They are most relevant if you might sell, move or remortgage before your deal expires.
What happens when my fixed rate ends?
Should I choose a 2-year or 5-year fixed rate?
Can I overpay on a fixed rate mortgage?
What is an early repayment charge?
Reviewed by Yazdaan Hussain · CeMAP qualified · LLB
21 August 2026
Your home or property may be repossessed if you do not keep up repayments on your mortgage or other loans secured upon it.