Fixed Rate Mortgages can cost slightly more than a variable rate mortgage, but Fixed Rates have the added advantage that they offer security against interest rate fluctuations. They offer clients the ability to budget more effectively. The most common fixed rate terms last 2, 3 or 5 years.

These are often the least expensive mortgage products. Many offer an initial discount or are called Tracker Rate mortgages. The monthly cost is dictated by the Bank of England Base Rate (BBR). Whenever the BBR changes (rises or falls) the mortgage payment follows.

Although many mortgage products offer a degree of flexibility, fully flexible mortgages offer clients the ability to make lump sum repayments, borrow back money already repaid, offset savings and current account balances. They usually do not have Early Repayment Charges applied.

Buying property as an investment has increased hugely in popularity in recent years and as a result there are a wide range of products available from Lenders to satisfy demand. There are key differences between this and a residential mortgage. Our Advisers can take you through those differences and make a suitable recommendation.