Five year fixed rate mortgage

A five year fixed rate mortgage will protect you against potential interest rate rises

Your mortgage repayments will remain fixed for the length of the agreement. You can use our comparison tables to compare and find the best 5 year fixed rate mortgages.

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Why choose a 5 year fixed rate mortgage?

Five year fixed rate mortgages often come with a higher arrangement fee than two year fixed rate deals. Despite this, they remain popular with borrowers as your monthly repayments are fixed for a five year period, which means if interest rates increase your monthly repayments will remain the same.

However, if rates drop during the five year period you will not benefit from the lower mortgage interest rates that are available. Also, if rates do rise over the five year period you could end up having a sharp increase in your monthly repayments when your five year deal ends.

Read more…

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