What is a Fixed Rate Remortgage?
Fixed rate remortgages have a fixed interest rate and monthly payment for the life of the loan or a preset period of time. They are a great way to budget your payments as you will know what your mortgage will cost every month. We highly recommend this product for people who want no surprises from their mortgage payments or have fixed income streams where a majority portion of their income goes towards their mortgage payment.
Get a Fixed Rate Remortgage Quote!I Have Bad Credit, Can I Get a Fixed Rate Remortgage?
Yes, off course you can! Anyone can get a fixed rate remortgage, even if you have severe credit problems. At Lendgo, we have a vast array of mortgage advisors that can offer you a bad credit fixed rate mortgage at a super low rate. Get a free quote and see for yourself.
Get a Fixed Rate Remortgage Quote!What to Look For In a Fixed Rate Remortgage
Although, a fixed rate mortgage is a simply straightforward product it does have some pitfalls. First off, fixed rate remortgage loans can have different fixed periods; some loan programs are fixed for the life of the loan, while others are fixed for a period of time. Loans that are fixed for the life of the loan are great as long as they have a low rate. Find out if you have the best fixed rate mortgage here. Loans that are fixed for a period of time, it is important to note how long the loan is fixed for and more importantly what your rate is going to be after the initial fixed period.
Get a Fixed Rate Remortgage Quote!Is a Two Year Fixed Remortgage a Good Idea?
It depends on the exact terms of the loan. The questions to ask are: 1) what will the rate be after the fixed period? 2) What are the penalties, if any, if I want to remortgage later on. With that said, some the best loan programs on the market are 2 year fixed programs. We have seen rates as low as 2.8% fixed for 2 years. These programs as especially good for borrowers that are having short term financial difficulties; they have super low payments for two years while they get back on their feet.
Get a Fixed Rate Remortgage Quote!
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
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Example rate shown is a fixed mortgage available from HSBC. The mortgage is fixed at 2.94% for a two year period. After the two year intro period the mortgage reverts to 3.94%, The overall cost for comparison is 3.9% APR. This information is not to be construed as advice, recommendation or promotion and is simply an example of a product which may be available to you.
