Fixed rate mortgages

Fixed rate mortgages are one of the most popular types of mortgage. One advantage of a fixed rate mortgage deal is that you know exactly what you will be repaying each month which makes it easier to budget and is more secure for those who are operating within a tight budget.

Top fixed rate mortgages are attractive to homeowners who have a conservative attitude towards risk. In general fixed rates are linked to base rate. As interest rates rise and fall so do the interest rates attached to a fixed mortgage rate.

Most fixed rate mortgages are presented as deals that last for two, three or five year fixed rate mortgage deals, though you can get ten year and even lifetime fixed rate deals. Typically, the interest rates are lower for shorter deals and higher for longer deals. This is because the lender is taking a risk on what the base rate will do over the length of the fixed rate deal, so there is less of a risk in attempting to predict what base rate will do over a shorter period, therefore the rate will be lower for a two year deal than a three year product.

	Accord cut rates on fixed-rate mortgages for FTB's Accord are the latest lender to cut mortgage rates on a range of fixed rate mortgages including deals for first-time buyers.
	Nationwide unveils its cheapest ever fixed rate mortgage deals Nationwide Building Society has unveiled a new range of cheaper mortgages with fees cut, cashback lower fees for first-time buyers and extra discounts for existing borrowers.
	First Direct launch three new best-buy fixed rate mortgages Award-winning lender First Direct has unveiled three new mortgage products for borrowers with a 35 per cent deposit that go straight to the top of the best-buy tables.
	Clydesdale and Yorkshire cut fees on new fixed rate mortgages The Clydesdale and Yorkshire Banks have announced details of two new fixed rate deals for 60 per cent LTV borrowers and cuts in arrangement fees.
	Nationwide cuts fixed-rate mortgages Fixed-rate mortgages from Nationwide have been reduced by up to 0.3 per cent.