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With a fixed rate mortgage the monthly repayment amount is fixed for a specified period. The fixed rate remains constant irrespective of changes to the Bank of England’s base rate or the lender’s variable rate.


The fixed rate period typically last for two to five years. Although it can be longer. As the end of the fixed period the interest rate reverts to the lender’s standard variable rate. Early repayment charges will apply should you wish to cancel your mortgage before the end of the fixed period.




  • It is easier to budget for your mortgage repayments as you will be paying over the fixed rate period.
  • You can usually benefit from a lower interest rate in the first few years, freeing up money for furnishings, carpets or whatever else you want.
  • You are protected from any increased in the Bank of England base rate.




  • Early repayment charges will almost certainly apply within the fixed rate period. This means you will be unable to change your mortgage during the ‘early repayment charge period’ without paying a fee, which may be up to the value of six months repayments. Consequently during the fixed rate period you may miss out on a more competitive interest rate if interest rates fall to less than the fixed rate.
  • You will normally have to pay an application fee when arranging your fixed rate mortgage.


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


For mortgages we are paid NO FEE. We will be paid commission by the lender.




At Town & Country Mortgages our priority is always to provide quality advice and service to our customers.
We strive to ask all our customers to provide feedback and below are extracts from questionnaires completed by our customers in 2014.

The Town & Country mortgage advisor was very helpful and explained the points I was unsure of and looked for the best mortgage that suited our circumstances.  I would recommend their services to anyone else looking.

Mr Manuel July 21, 2017