Fixed-Rate Mortgage Deals & Rates
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Written by:
Alison Gibson
Ascot Mortgage Expert
Last Updated:
27.05.2025
Written by:
Alison Gibson
Ascot Mortgage Expert
Last Updated:
27.05.2025
Is your fixed-rate mortgage deal coming to an end? If so, you could soon be transferred to your lender’s Standard Variable Rate (SVR). At Ascot Mortgages, we specialise in helping homeowners avoid unnecessary costs by securing a new, competitive mortgage deal tailored to your needs.
Our expert team will guide you through the remortgaging process, ensuring a smooth transition and potentially significant savings. So, don’t let your mortgage lapse into a costly SVR – contact Ascot Mortgages today for a free consultation and take control of your financial future.
What is a fixed-rate mortgage?
A fixed-rate mortgage is a home loan agreement where the interest rate remains constant for the duration of the loan. In most cases, a fixed-rate mortgage is locked in for two or five years. This means that you can expect your monthly payments to stay the same throughout that period regardless of any changes to the Bank of England’s base rate. This type of mortgage is usually offered in 15, 20 or 30-year terms.
Since the rate of this type of mortgage doesn’t change, borrowers are protected from interest increased within the market. However, it’s important to note that interest rates tend to be higher than those of variable rate mortgages.
Fixed-rate mortgage deals are popular among homeowners as they provide borrowers with stability and the predictability of consistently manageable payments. They are the ideal choice for those who plan to stay in their home for a long time.
My fixed-rate mortgage is coming to an end - what happens next?
If your fixed-rate mortgage is coming to an end, you might be wondering what happens next. In short, when a fixed-rate mortgage term ends, the interest rate on your mortgage will automatically switch to your lender’s standard variable rate (SVR). The SVR is usually higher than the fixed rate, meaning that your monthly repayments will be higher too.
The SVR is often not the most competitive rate. What’s more, if you don’t keep an eye on your mortgage, you could find that the switch over to the SVR happens without you even realising. This can be an unwelcome and expensive change, especially if you have enjoyed a fixed-rate deal that has been relatively affordable.
However, you don’t have to choose to switch over to the lender’s SVR – instead you can remortgage to a new deal. You can either choose another fixed-rate deal, or you can switch to a different type of mortgage, such as a tracker with a variable interest rate. To learn how a fixed-rate mortgage differs from a tracker mortgage, check out our FAQs.
It’s a good idea to start considering your remortgaging options several months before your fixed-rate deal ends. This gives you plenty of time to do your research, secure a new deal and complete the necessary paperwork.
When it comes to remortgaging, it’s important to be aware of potential fees, such as arrangement, valuation and booking fees, as these have the potential to impact the overall cost.
If you’re not sure what to do as your fixed-rate mortgage comes to an end, don’t hesitate to speak to us. As market leaders, Ascot Mortgages can guide you through your options to find you another cost effective mortgage arrangement. We offer a free initial consultation, creating a bespoke mortgage deal for you, saving you money and time in the process.
Contact us to find out more about how we can arrange your next mortgage deal. We can explain the different types of mortgages to ensure you find the best deal.
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Finding the cheapest fixed-rate mortgage
Here at Ascot Mortgages, we utilise our market knowledge to find you the best fixed-rate mortgages. We are confident we can secure you an equally competitive deal as the one that you had previously, meaning that you continue to benefit from the advantages of this type of mortgage.
These advantages can include an affordable monthly amount that is easy to budget for, and the opportunity to fix the mortgage deal for up to five years, ensuring stability and security for you.
Up to 75 percent of homeowners opt for a fixed-rate mortgage, and just because you have benefited from one previously does not mean that you should not be able to take advantage of one again.
Choosing to switch back to a fixed-rate deal, as opposed to reverting to the generic SVR, means that you have continued predictability when it comes to your repayments and are locked into an offer that you know is not going to be affected by changes in the economic climate.
In addition, by using the expertise of Ascot Mortgages, you could find that you end up on a more cost effective fixed-rate deal than you were previously on.
Based on a mortgage of £300,000 at 75% LTV and 25 years Today’s best buy mortgages
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See all mortgage best buysSpeak with Us Interest Rate Mortgage Type Monthly Repayment Amount Total Fees Max LTV 
4.14% Fixed £1,219 £30 75% 4.18% Fixed £1,216 £1,025 75% 4.18% Fixed £1,215 £999 75% 4.20% Fixed £1,220 £1,403 75%
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FAQ
Yes, the LTV ratio available for fixed-rate mortgages can vary by lender and the specific mortgage product. Typically, a lower LTV ratio means you have a larger deposit or more equity in the property, which can often secure a more favourable interest rate. Always check with individual lenders for their specific LTV criteria.
Fixed-rate mortgage rates are influenced by several factors:
- The Bank of England base rate and expected future changes to it.
- The cost for lenders to borrow money, known as ‘swap rates’.
- Lenders’ business objectives and competitive positioning in the market.
- The perceived risk associated with the loan, including the LTV ratio.
A longer-term fixed-rate mortgage provides:
- Certainty: Your monthly repayments remain constant, making budgeting easier.
- Protection: You’re shielded from potential interest rate rises for the duration of the fixed term.
- Peace of mind: You have the security of knowing your rate won’t change for a set period, regardless of external economic factors.
Yes, some potential disadvantages can include:
- Less flexibility: Fixed-rate mortgages may have higher early repayment charges if you decide to remortgage or pay off a large chunk before the end of the fixed term.
- Potential missed savings: If variable rates drop below your fixed rate, you won’t benefit from the decrease.
- End of fixed period: Once the fixed term ends, your mortgage usually reverts to the lender’s standard variable rate, which could be higher.
Yes, you can often remortgage from a variable rate to a fixed rate. This might be a good idea if you expect interest rates to rise in the future. However, always consider any early repayment charges or fees associated with your existing mortgage before making a switch.
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Ascot Mortgages authorised and regulated by the Financial Conduct Authority and can be found on the FCA register (www.fca.org.uk) under reference 776062. The FCA do not regulate some forms of mortgages. The guidance and advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate it will be £599 per mortgage account. Ascot Mortgages Ltd give you the option to pay a non-refundable fee of £1299 payable with the application. If this option is taken, Ascot Mortgages Ltd will refund any procuration fee received by the lender.
Ascot Mortgages Limited is registered in England and Wales and have their registered office at 8 Webster Court, Westbrook, Warrington, WA5 8WD. The company’s registration number is 06764971.
We are a credit broker, not a lender. We work with the whole of the lending market. We may receive commissions that will vary depending on the lender, product, or other permissible factors. The nature any commissions model will be confirmed to you before you proceed.
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