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First Time Buyers
Need a mortgage? Maybe you're a first time buyer and need a mortgage with a minimum deposit?
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Purchase / Remortgage
Need advice on the dos and don'ts of buying your next home? Fixed rate ending and need to remortgage?
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Other Products
Life Cover, Buildings and Contents, Sickness, Accident and Redundancy Cover, Secured loans
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Adverse Credit
Maybe you’ve got bad credit or County Court Judgments? We’ll find someone to listen with a sympathetic ear.
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FAQs
Watch short videos of our C.E.O. answering the questions most asked by our clients.
The Mortgage Point
Fixed Rate Mortgages
Fixed Rate mortgages are the most popular mortgage product on the UK market; this is mostly down to the stability and reassurance that comes from knowing that your monthly interest payments will never rise during the fixed rate period of your mortgage, even if the Bank of England or your lender’s base rate rises.
Many British homeowners and first time buyers prefer the security of a fixed rate mortgage knowing that for the duration of their fixed rate term, they will not get any nasty shocks when the Lender’s rate goes up.
Most typical fixed rate mortgages have a term of 1 to 3 years, although there are longer loan periods of 5 years, up to 25 years with some lenders. A longer term will mean you don’t have to worry about remortgaging every few years and give you peace of mind that your mortgage is sorted.
When your fixed rate term ends your mortgage reverts to the base rate unless you arrange for another fixed rate period. Choosing a fixed rate mortgage and getting the best deal takes time, make sure you visit a whole of market mortgage broker such as The Mortgage Point to get assistance when deciding on which mortgage to choose.