Eurobrix.com: The European Real Estate Portal

Fixed rate mortgages are the top choice for getting on the UK property market

by 10. December 2014 10:46
A fixed rate mortgage guarantees that the monthly mortgage payment will not change during the length of the fixed rate period. Fixed rate mortgages are usually for the initial period of the loan, anywhere from one year to ten years. After the fixed rate term ends, the mortgage will go to a variable rate for the remainder of the loan. A fixed rate mortgage has many benefits that can help out a new homeowner. Major Advantages One of the major advantages of a fixed rate mortgage is a guarantee that the monthly payments will remain the same during the fixed rate term. Put simply in this chart from cbonline.co.uk, you know what you’re spending with a fixed rate mortgage. A fixed rate allows new homeowners to budget their money without ... [More]

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Yuri Brixenmortar

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