In a fixed rate mortgage arrangement, the interest rate is fixed for a pre-determined period of time, which can be for up to 5 years or more. The monthly mortgage payment will not change, no matter whether the Bank of England, or the mortgage provider, raises or reduces their interest rates. For the borrower, the advantage of a fixed rate deal is that he or she knows exactly how much their monthly repayment is going to be each month and for how long.

In some instances, the interest rate charged on a fixed rate mortgage can be higher than the interest rates charged for other types of mortgages. The borrower may also have to pay an arrangement fee to set up a fixed-rate deal.

Usually, once a fixed rate arrangement comes to an end, the lender's standard variable rate applies.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

How We Can Help.

See below for the services we offer

Equity Release

If you're over the age of 55, equity release offers you a way to use the value of your home to raise money.

Protection

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Mortgages

Mortgages are loans which are intended to help buyers purchase residential property. When you take out a loan, the lender charges interest: the...

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01442 400550

01442 400550
45C St. Johns Road,
Hemel Hempstead HP1 1QQ .

info@tudormortgages.co.uk