Skip to content
£ moneyguide Search

Independent information, not financial advice. Partner offers are labelled Ad. How we make money

Glossary · Mortgages

Fixed-rate mortgage

Where a link is marked * or labelled Ad, it is a partner advertisement: we receive commission at no extra cost to you. Links without a * or Ad label earn us nothing. How we make money.

Last reviewed:

Definition: A mortgage where the interest rate is locked for a set period (typically 2, 5 or 10 years) regardless of changes in Bank Rate.

After the fix ends, the loan reverts to the lender's Standard Variable Rate (SVR) unless you remortgage. Early Repayment Charges typically apply within the fix period and are usually capped at 10% per year of overpayments.

Related

More Mortgages terms

← All glossary terms