Mortgage Interest Rates
Our Mortgage Interest Rates Service
Special features of what we offer include:
- Friendly telephone service from our expert mortgage advisers
- Whole of market service - we work with most UK lenders
- Access to leading market mortgage interest rates
- Access to exclusive mortgage deals not available on the high street
- Quick turnaround - speak to us today if you need to move quickly
- We have lenders who will take into account previous defaults and missed payments
- Looking to raise additional finance on top of your existing mortgage or buy to let mortgage? - we have access to a range of finance solutions
"The essence of the Fair Mortgages service is professional independent mortgage and protection advice brought to you by a team of specialist advisers and experienced administration support. With the recent changes (long overdue) to the mortgage industry, the message from the Regulator and lenders to the UK public is to get professional advice.
As your mortgage is such an important transaction, good advice is imperative.
Mortgage interest rates vary between different providers and mortgage offers, which means that dong your research in order to find the lowest interest rate available for your circumstances can be a sensible idea. Use our free and easy to use mortgage interest calculator, below, to compare 5,000 mortgage deals that are available right now, and find the one that suits you best.
Mortgage interest rate options
The rate of interest you will have to pay back on your mortgage will vary depending on a variety of factors, including the type of mortgage you choose. Some of the most commonly available mortgage types are fixed rate mortgages, variable rate mortgages and tracker mortgages.
Variable rate mortgages charge interest based n the mortgage lender’s own Standard variable rate (SVR). This is the lender’s default rate and excluded any offers or discounts. Many special mortgage deals, such as discounts or cashback mortgage offers, revert to the SVR when the deal ends. Lenders can change their own SVR at any time, so the amount you will pay each month cannot be guaranteed.
If you have a fixed rate mortgage, the interest rate that you pay will be set at a fixed amount for a specified period of time after the mortgage starts. For example, you may have a fixed interest rate for 2, 3 or 5 years, after which the interest reverts to the lender’s SVR.
Tracker mortgages offer a third option in which the rate of interest charged on the mortgage is directly linked to the Bank of England Base Rate. With this rate currently at an historic low of 0.5%, tracker mortgage rates are also relatively low at the time of writing. Therefore, tracker mortgages can offer an attractive option to homebuyers as long as they are prepared to sacrifice the stability of a fixed rate mortgage deal and are prepared to accept the risk that the Base Rate could rise and thus increase the rate of interest that you have to pay on your mortgage.