- Uswitch.com>
- Mortgages>
- Compare Our Best Fixed Rate Mortgage Deals 2025
Fixed-rate mortgages
A fixed-rate mortgage locks in your interest rate for a set period, giving you peace of mind and predictable monthly payments. Discover how fixed-rate mortgages work and whether they’re the right choice for you.
Ready to find the best fixed-rate mortgage deals available to you? Tell us about yourself and book in a free expert comparison call with our broker partner, Mojo Mortgages.
What is a fixed-rate mortgage?
A fixed-rate mortgage is a type of mortgage product where your interest rate stays the same for a set period of time.
Choose a fixed period to suit you (typically two, three or five years - though longer deals are available)
Your monthly repayments will stay the same for the duration of your deal, giving you consistency
Your interest rate won’t be affected if the Bank of England base rate rises or market conditions change until your deal ends
When your fixed-rate period ends, you’ll be moved to your lender’s standard variable rate unless you decide to remortgage
Advantages of a fixed-rate mortgage
Your mortgage payments are safeguarded against any increase in interest rates
Fixed-rate mortgages make it easier to budget because you know exactly what your repayments will be for the duration of the fix
A fixed-rate mortgage is typically more affordable than the lender’s standard variable rate (SVR)
You can choose how long to fix for
Disdvantages of a fixed-rate mortgage
Unlike SVR mortgages, if you want to pay off your fixed-rate mortgage early you will probably have to pay ERCs (early repayment charges)
If interest rates fall, stay level, or only rise a small amount, you may end up paying more than you would on a variable rate deal
Fixed-rate mortgages typically have higher rates than variable rate deals
Fixed-rate mortgages often have higher arrangement fees, however, the fees can usually be added to your loan
Here’s how to compare fixed-rate mortgages with us
Tell us your mortgage needs
Get a recommendation from across many fixed-rate mortgage deals
Secure more than just a fixed-rate mortgage offer
Fixed mortgage rates
This table shows some of our partner Mojo's best fixed-rate deals currently available, based on the initial rate and some different loan-to-value (LTV) ratios. LTV is the amount you borrow compared to the property value.
The initial rate you only pay during the introductory deal period.
The Annual Percentage Rate of Change (APRC) is included after the initial mortgage rate for each deal. APRC takes fees and the SVR (Standard variable rate) into account, as you're automatically moved onto this when the introductory period ends.
This means it can help to compare mortgage deals more holistically, but is unable to consider what you'll pay overall if you remortgage at the end of the introductory deal - which most borrowers to to avoid the SVR due to the higher cost.
Your property may be repossessed if you do not keep up with your mortgage repayments.
- 2 years
- Fixed rate
- Monthly repayment£ 875.67
- Loan to value60 %
- Initial interest rate3.88 %
- Variable rate7.49 %
- APRC7.1%
- Product fees£ 1,525
Representative example:Repayment mortgage of £168,000.00 over 25 years, representative APRC 7.1%. Repayments: 27 months of £875.67 at 3.88% (fixed), then 273 months of £1,211.82 at 7.49% (variable). Total amount payable £354,469.95. Early repayment charges apply until 31-Jul-2027. Arrangement, mortgage discharge, valuation and CHAPS fees total £1525.
- 2 years
- Fixed rate
- Monthly repayment£ 1,035.64
- Loan to value70 %
- Initial interest rate4.01 %
- Variable rate7.49 %
- APRC7.1%
- Product fees£ 1,525
Representative example:Repayment mortgage of £196,000.00 over 25 years, representative APRC 7.1%. Repayments: 27 months of £1,035.64 at 4.01% (fixed), then 273 months of £1,415.23 at 7.49% (variable). Total amount payable £414,320.07. Early repayment charges apply until 31-Jul-2027. Arrangement, mortgage discharge, valuation and CHAPS fees total £1525.
- 2 years
- Fixed rate
- £ 300 cashback
- Monthly repayment£ 1,204.73
- Loan to value80 %
- Initial interest rate4.18 %
- Variable rate7.64 %
- APRC7.2%
- Product fees£ 1,705
Representative example:Repayment mortgage of £224,000.00 over 25 years, representative APRC 7.2%. Repayments: 28 months of £1,204.73 at 4.18% (fixed), then 272 months of £1,638.34 at 7.64% (variable). Total amount payable £479,360.92. Early repayment charges apply until 31-Aug-2027. Arrangement, mortgage discharge, valuation and CHAPS fees total £1705. Legal fees £258.
- 5 years
- Fixed rate
- Monthly repayment£ 1,385.09
- Loan to value90 %
- Initial interest rate4.4 %
- Variable rate6.74 %
- APRC6%
- Product fees£ 1,016
Representative example:Repayment mortgage of £252,000.00 over 25 years, representative APRC 6%. Repayments: 64 months of £1,385.09 at 4.4% (fixed), then 236 months of £1,673.76 at 6.74% (variable). Total amount payable £483,653.12. Early repayment charges apply until 31-Aug-2030. Arrangement, mortgage discharge, valuation and CHAPS fees total £1016. Legal fees £295.
The above fixed rates are provided by Mojo Mortgages and updated every 12 hours. THEY MAY NOT BE AVAILABLE WHEN YOU'RE READY TO SUBMIT AN APPLICATION.
Should I get a fixed-rate mortgage?
As with all mortgage products, it really does depend on your own circumstances and attitudes to risk.
However, a call with an experienced mortgage broker can help you assess your options. They’ll talk you through the mortgage types available so you can decide what works best for you.
Fixed vs variable rate mortgages
There are two main types of mortgage interest rate to choose from: fixed, and variable.
When you opt for a fixed-rate mortgage, your interest rate will stay the same for a set period. With a variable-rate mortgage, your interest rate (and therefore your monthly payments) can change at any time.
Whether a fixed-rate or variable-rate mortgage is best for you will ultimately depend on how much certainty you need when it comes to your monthly payments - plus what you expect will happen to rates in the near future. Read our fixed vs variable mortgage rates guide for more information.
How long should I fix my mortgage for?
How long you should fix depends largely on your personal preference. The most common terms are two-year and five-year fixed-rate mortgages, though it’s not unheard of for borrowers to opt for shorter or longer deal lengths.
Short-term fixed-rate mortgages
Typically refers to 2 or 3 years, though some lenders do offer one-year fixed-rate mortgages
Offers protection from interest rate increases for a short period, while providing more flexibility as you can reassess your options sooner
Can save you money if rates fall suddenly, as you won’t miss out on lower rates for too long. However, if rates rise, you’ll face potentially higher rates when you remortgage
You’ll need to remortgage more frequently, which can be costly and inconvenient
Long-term fixed-rate mortgages
Typically refers to 5 years, though longer fixed-rate mortgages are available
Offers long-term stability, giving you budgeting certainty for longer
Protects you from potential interest rate rises for a greater period of time, though if rates fall you won’t feel the benefit until your fixed deal ends
Reduces the need to remortgage every few years, which saves fees and admin hassle
Is now a good time to fix my mortgage rate?
A fixed-rate mortgage deal could be a good move if:
You’re on a strict budget and prefer to always know what your repayments will be
Your circumstances are unlikely to change until your deal ends
The Bank of England base rate is rising or is expected to
Competition between lenders has driven rates down
“Fixed-rate mortgage rates are influenced by a number of factors, including the Bank of England base rate, market expectations of future interest rates, broader economic factors and the lender’s own criteria and policies. This makes it really hard to predict what’s likely to happen to interest rates in the near future. Focus on your own risk tolerance and whether the features of a fixed-rate mortgage align with your needs.” - Jason McDonald, Mortgage Expert
What will my fixed-rate mortgage cost?
How much you pay for a fixed-rate mortgage will depend on how much you borrow and for how long, the interest rate you’re offered and any fees associated with the mortgage.
The fixed-rate period you choose will also make a difference. Traditionally, longer fixed-rate periods have been much more expensive as they offer greater security. However, in a volatile market, this is not always the case. Recently five-year fixed-rate mortgage rates have been slightly lower than two-year fixed-rate mortgages on average.
When budgeting for a house move or remortgage, you should also consider the other costs and fees associated with buying a house. This includes things like conveyancing fees, valuation fees and stamp duty where applicable.
The majority of mortgage holders choose fixed-rate mortgages options as they provide certainty to your household budget for a set amount of time. There are lots of different fixed-rate options out there, so speak to an expert to find the most suitable one for you. ”Laura Hamilton, Mortgage Expert
Fixed-rate mortgages FAQs
What happens at the end of my fixed-rate mortgage term?
When your fixed-rate period comes to an end, you'll be moved to the provider’s standard variable rate (SVR). These are set at the discretion of the lender and can increase at any time.
SVR mortgages are typically the most expensive, so in most cases, you should consider either fixing again or swapping to a different variable mortgage deal to lower your repayments.
Can I remortgage to get out of my fixed-rate mortgage?
Most fixed-rate mortgages charge early repayment fees if you want to leave before the end of the fixed term. However, you can organise a remortgage deal as far as six months ahead of your current mortgage deal's end date. So if you see a competitive mortgage rate today, you won’t necessarily need to wait until you deal ends to lock it in.
What is the longest fixed-rate mortgage deal available?
Some fixed rates are available for the lifetime of the mortgage, in some cases as long as 40 years. Keep in mind that mortgage interest rates on such a long fix will be far less competitive than those fixed for less than 10 years, however.
If interest rates fall significantly on a long-term fixed-rate deal you'll be stuck on a higher rate unless you pay the ERCs (Early repayment charges). These are likely to be very high on a long deal - often as much as 5% of the remaining mortgage balance.
Can I pay off my fixed-rate mortgage early?
You can usually overpay by up to a maximum of 10% of the remaining mortgage balance per year, without incurring ERCs (but check your terms and conditions). However, theoretically you could repay your full balance at any time, if you're willing to pay the ERCs.
It's worth noting that when you fall onto the lender’s SVR, you'll no longer have to pay fees to repay your mortgage early, so this could be a good time to consider it. It's worth comparing remortgage deals to check the latest interest rates before doing so.
Are fixed-rate mortgages more expensive?
They’re usually more expensive than tracker and discount deals at the outset, but if mortgage interest rates rise, they may end up being cheaper overall.
How much deposit do I need for a fixed-rate mortgage?
How much deposit you need is not determined by the type of mortgage or interest rate you choose. All mortgages have something called a loan-to-value (LTV) ratio and each lender has a maximum LTV acceptable for each of their mortgage products. The LTV will therefore guide you in how much deposit (or equity if remortgaging) you need.
Lower mortgage interest rates are directly linked to a higher deposit, as well as your wider personal circumstances, such as your credit rating. The cheapest fixed-rate mortgage deals will, therefore, be reserved for those with larger deposits and a lower LTV.
Didn’t find what you were looking for?
Find out about other mortgages
Read some of our most popular guides
YOUR HOME/PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS.
The FCA does not regulate mortgages on commercial or investment buy-to-let properties.
Uswitch makes introductions to Mojo Mortgages to provide mortgage solutions. Uswitch and Mojo Mortgages are part of the same group of companies. Uswitch Limited is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 312850. You can check this on the Financial Services Register by visiting the FCA website. Uswitch Limited is registered in England and Wales (Company No 03612689) The Cooperage, 5 Copper Row, London SE1 2LH. Mojo Mortgages is a trading style of Life's Great Limited which is registered in England and Wales (06246376). Mojo are authorised and regulated by the Financial Conduct Authority and are on the Financial Services Register (478215) Mojo’s registered office is The Cooperage, 5 Copper Row, London, SE1 2LH. To contact Mojo by phone, please call 0333 123 0012.
*Average savings are based on Mojo Mortgages residential remortgage sales data, compared to the average SVR in February 2025. Actual savings will depend on individual circumstances.