Nationally, the number of people taking our mortgages is rising, and Brackley is no exception. A popular mortgage product is the fixed-rate mortgage.
A fixed rate mortgage is the mortgage scheme where you pay the same amount per month.
The main advantage of choosing a fixed-rate mortgage is you know how much your monthly remortgage repayments are likely to be.
Some of the reasons why people choose a fixed-rate mortgage are:
- As the mortgage repayment rate is fixed you will have to pay the same amount monthly.
- Having a fixed amount to pay back per month helps you budget more effectively.
- Should the interest rate rise, you won't have to worry about having to pay more.
Most fixed rate mortgages are adjusted every couple of years - it is likely you will start your mortgage on a fixed-rate basis, then after a couple of years be transferred to another type.
Mortgage products available:
Fixed rate mortgages - With this type of mortgage the repayment rate stays constant per month
Flexible mortgages - This type of mortgage allows you take flexible 'breaks'
Buy-to-let Mortgages - This mortgage applies if you have just purchased a house with the intention of renting to tenants
Remortgages - Want to change your mortgage repayment plan or provider? Read our section on remortgages first!
Tracker mortgages - These mortgages follow the Bank of England base rate; you could possible save money by employing a tracker mortgage
First Time Buyer mortgages - These mortgages are appropriate if you are buying a house for the first time
Mortgage products are available in:
Regions:
Counties:
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