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    Mortgages are loans which are intended to help buyers purchase residential property. When you take out a loan, the lender charges...Read More

    You can protect yourself and your family financially by making money available, should something unexpected happen. Read More

    If you're over the age of 55, equity release offers you a way to use the value of your home to raise money. It is... Read More

    This is an area of financial planning that is often overlooked. Traditionally, we have our buildings and contents insurance with our mortgage lenders, which may be uncompetitive in a very competitive marketplace. Read More

    It’s less risky than investing, but it offers limited growth. The most you'll earn on the money you save is the interest added. Read More

    When you retire you still need food and shelter as an absolute minimum, but of course you will want to maintain the lifestyle to which you have become accustomed...Read More

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Home    Fixed Rate Mortgages
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Fixed Rate Mortgages

In a fixed rate mortgage arrangement, the interest rate is fixed for a pre-determined period of time, which can be for up to 5 years or more. The monthly mortgage payment will not change, no matter whether the Bank of England, or the mortgage provider, raises or reduces their interest rates. For the borrower, the advantage of a fixed rate deal is that he or she knows exactly how much their monthly repayment is going to be each month and for how long.

In some instances, the interest rate charged on a fixed rate mortgage can be higher than the interest rates charged for other types of mortgages. The borrower may also have to pay an arrangement fee to set up a fixed-rate deal.

Usually, once a fixed rate arrangement comes to an end, the lender's standard variable rate applies.

Your home may be repossessed if you do not keep up repayments on your mortgage.

In a fixed rate mortgage arrangement, the interest rate is fixed for a pre-determined period of time, which can be for up to 5 years or more. The monthly mortgage payment will not change, no matter whether the Bank of England, or the mortgage provider, raises or reduces their interest rates. For the borrower, the advantage of a fixed rate deal is that he or she knows exactly how much their monthly repayment is going to be each month and for how long.

In some instances, the interest rate charged on a fixed rate mortgage can be higher than the interest rates charged for other types of mortgages. The borrower may also have to pay an arrangement fee to set up a fixed-rate deal.

Usually, once a fixed rate arrangement comes to an end, the lender's standard variable rate applies.

Your home may be repossessed if you do not keep up repayments on your mortgage.

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Miller Financial Planning Ltd
Eastlands Court Business Centre
St Peters Road
Rugby
Warwickshire
CV21 3QP
T: 01788 577775
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Miller Financial Planning Ltd is an appointed representative of Quilter Financial Planning Solutions Limited, which is authorised and regulated by the Financial Conduct Authority. Registered as a limited company in England & Wales No:06752854.  Registered Office: Eastlands Court Business Centre,St. Peters Road, Rugby, Warwickshire, CV21 3QP.

The Financial Conduct Authority does not regulate advice on commercial and agricultural mortgages, buy to let mortgages, or advice on some tax matters.

The information and content within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.

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