In a fixed-rate mortgage arrangement, the interest rate is fixed for a pre-determined period of time, 2, 3, 5, and 10 years are commonly available, but other options do exist. The monthly mortgage payment will not change, no matter whether the Bank of England or the mortgage provider raises or reduces interest rates. For the borrower, the advantage of a fixed rate deal is that they know 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.

London Stock Exchange

Value Move %
FTSE 100
8574.67 43.06 0.505
FTSE 250
20520.41 63.26 0.309
FTSE 350
4700.2 22.51 0.481
FTSE All Shares
4650.88 22.11 0.478
Dow Jones
41368.45 254.48 0.619
Nasdaq
17928.139 189.977 1.071

Currencies

Value Move %
0
1.18 0 0.002
GBP/NOK
13.784 -0.043 -0.313
0
12.879 -0.011 -0.089
GBP/USD
1.327 0.002 0.141

Biggest Movers

Value Move %
SEGRO
795.6 +52.4 +7.05
easyJet
477.8 -18.1 -3.65

0345 163 2211
info@gpfinancial.co.uk,
1192 Stratford Road,
Hall Green, Birmingham
B28 8AB.

info@gpfinancial.co.uk