Looking for the best fixed rate Mortgage deal? then you have come to the right place. Using a Mortgage Broker to find you the best fixed rate deal is a smart move on your part.
At Mortgage Advisor Glasgow we have access to the whole market, giving you access to some great fixed rate deals. Included are some exclusive Mortgage deals only available through Brokers.
We are living in an era of low fixed rates, how long these rates remain this low is any ones guess? Fixed rate Mortgages are of course just on e of the options open to you. There are other options such as Tracker Rates.
Whether a Fixed rate Mortgage is the right option for you will depend on your circumstances and plans for the future. Talking to a good Mortgage Broker will make sure you get the correct Mortgage deal, be that a Fixed rate or other type of Mortgage.
What is a Fixed Rate Mortgage?
When you fix your Mortgage, you locking in a “fixed” rate for a set period of time. You can normally fix your Mortgage for a number years, with most lenders offering anywhere from 2 to 20 year fixed rates.
Normally if you fix your Mortgage rate, you fix the amount you pay each month. This means regardless of what the Bank of England do each month( they can raise or lower the Base Rate) your Mortgage payment will remain the same for the period that it has been fixed for.
As a rule of thumb, the shorter the fixed rate, the lower the fixed rate. For example a 2 year fixed rate would normally be lower than a 3 or 5 year fixed rate.
This is why advice is important when looking at fixed rates. A good Mortgage Broker will assess your requirements and build a picture of your overall plans and desires, before recommending a Mortgage deal fro you.
In some cases your Adviser may advise you to take a longer fixed rate,that maybe higher than a shorter term deal. For example if you are concerned about future interest rate rises or you are planning to stay long term in your home, then you Adviser may advise you to take on longer term fixed rate.
Advice is paramount, so make sure you get advice, as headline rates are not the be all and end all.
Finding the Best Fixed Rate Deals.
As discussed earlier using a Mortgage Broker is a great way to find some great fixed rate deals. You can of course do your own research online or go direct to the lenders.
However I am firmly of the belief that using a Mortgage Broker will not only help you find a great fixed rate, but will also make sure that you get the right Mortgage based on your needs and long term plans.
If you need help or advice on Fixed rate Mortgages or any Mortgage for that matter,then get in touch now. Our highly trained Mortgage Advisers will be happy to help you with tailored advice and help you find the right deal.
Call us now on 0141 2801992 or use the “Call Me Back” button option above and one of our Advisers will call you back,