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Why Choose Us

0 %
5-star reviews on Google
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years we have been as independent mortgage and protection brokers
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customer satisfaction for finding the best deals on the UK market
£ 0
total donated to various charities

Why Choose Ascot Mortgages

0 %
5-star reviews on Google
£ 0
total donated to various charities
0
years we have been as independent mortgage and protection brokers
0 %
customer satisfaction for finding the best deals on the UK market

What Our Clients Say About Us

5.0 Based on 122 reviews from review us onLucy B. ★★★★★ Having Phil as my mortgage advisor was great from the very start! He is down to earth and speaking to him was always a pleasure. The kindness, compassion and support I have been given all the way through what can be a stressful process was immeasurable. Phil and Jardelle worked as a solid team and was able to make me feel at ease all the way through buying my first home. The team were always available and the communication between everyone was always clear and I felt safe in the hands of the company as a whole. Thank you for helping me buy my first home!Flora R. ★★★★★ I worked with Richard (Protection Adviser) for a couple of days to sort out life and critical illness insurance. Absolutely brilliant, he found me and my husband the perfect policy. Very knowledgeable and easy to get on, he definetely makes things easy to understand. Thank you for the great service provided.Matthew R. ★★★★★ I've dealt with Phil at Ascot Mortgages for a while now and Phil always comes back back to me with the right plan.Keep the good work up!rafal W. ★★★★★ I would thoroughly recommend Phil Greenwood at Ascot Mortgages ltd to anyone looking to seek advice on purchasing a home.Phil was absolutely fantastic. He made the process very smooth and easy and was always there to answer any questions I had.Shahid L. ★★★★★ This company has been truly amazing in constantly giving me the support and help i need for my mortgage and for their continuous work ethic guiding customers like myself and educating them into making the best possible decisions. My special mention goes to Phil Greenwood who deserves every single credit for his brilliant work and communication skills. The more I got to work with Phil, the more he gained my respect as he is a hugely likeable man and possibly the best mortgage advisor yet. Even after I finished my time with Ascot Mortgages, I will never lose my trust in the company and I hope they exceed their business and gain even more success and popularity.Best wishes,Shahid Latif and familyPretty L. ★★★★★ Phil helped me renew my mortgage. He was great at keeping me updated with any rate changes and secured a lower rate than at the time my mortgage went through. Thank you Ascot for your supportNikki E. ★★★★★ Huge thanks to Richard Johnson for sorting out all of my insurance policies! I had accumulated a variety of life cover and various other policies over the years that all needed a good review and refresh. Richard was extremely patient and helped me to remove the duplication and choose the best cover to suit our current needs. I have used Ascot Mortgages for over 12 years and have met several members of the team, always finding the right help and support to work through what can be a complicated and stressful time. Thanks again, Richard!Aamir R. ★★★★★ As first time buyers we had very little understanding of how to go about applying for a mortgage. Phil was so helpful in cutting through all of the formalities and helping us to decide which mortgage would be best for us also ensured we collated all the details needed and kept us up to date on progress. The process of finding the right house was very stressful but the process of choosing and applying for the mortgage and life cover has been so straight forward that, at times, we were worried it was all a bit too smooth! Thank you for guiding us through this so professionally and with real understanding and personality.Andrew T. ★★★★★ Working with Richard at Ascot has been a great experience. He listened to us and was very professional throughout. This was our first experience with Richard but we've been using Ascot now for 6-7 years. Thank you all at AscotAngie B. ★★★★★ Always give a great service and find you a mortgage in a timely fashion.Alison is awesomeAndrew M. ★★★★★ We have used Ascot Mortgages for over 5 years now and have had excellent service throughout, primarily with Alison and Kevin. Our latest dealings have been with Richard Johnson who although new to us (and to Ascot I believe) has once again provided the 5 star level of service we have come to expect. His product knowledge is excellent offering a range of options supported with consistent communication and updates, always available on the phone or on email every step of the way.Ali H ★★★★★ Excellent service, a big thanks to Natalia Barry for her excellent support with my buy to let mortgage application, Natalia was professional, transparent, and kept me informed during all the process, and thanks to Jason jones for his assistance and support.david R. ★★★★★ I have dealt with Ascot for many years now and will always go back, recently had all my insurances re done by Richard Johnston at the firm, excellent service, communication and swift actions by Richard. Great deals on all three insurances and would recommend anybody to go to Richard for help. Thanks Richard 👍Eve Alexandra C. ★★★★★ We used Ascot Mortgages to purchase a home as first time buyers, Ellie assisted us with this and went above and beyond to ensure everything went smoothly, all questions were answered, and any queries were solved.As first time buyers, myself and my partner were quite nervous and clueless as to what to expect when getting a mortgage and what not, and Ellie made this so simple and explained everything in a way that we thoroughly understood what was happening with our house buying journey, without it being pure jargon.I can't thank Ellie enough, she truly has been a star during the whole experience and is an asset to Ascot Mortgages.She is someone who I would definitely recommend to friends and family if the opportunity arises, and has made this whole experience a very stress free and exciting one!Thank you for everything Ellie!Emma W. ★★★★★ Alison helped me to get the right mortgage for my current situation and was very supportivehelen L. ★★★★★ Phil Greenwood dealt with my recent remortgage, he made sure I had the best product to fit our HMO criteria. Then chased solicitors for me and made sure I completed around the date I wanted to avoid my ridiculous rate I was about to be switched to. Thanks Phil, great job! Ready for my next mortgage now so I will be coming back 🙂Mark C ★★★★★ Excellent service from an excellent representative. Very professional and helpful company. Thank you for all your helpDamian L. ★★★★★ I recently purchased a buy-to-let from Auction and Ascot Mortgages, in tandem with Ascot Bridging Finance, supported me through the whole process. Once the property purchase via a bridging loan was complete, Ascot Mortgages worked out the best options for me, despite the Banks rising interest rates and spiralling UK inflation and managed to secure me a competitive mortgage rate for that property. I wouldn't hesitate in going back to Ascot Mortgages in the future and look forward to working with them again in the near future. Thank you for everything you've doneJuliet B. ★★★★★ Thank you to Alison for helping us and sorting out our mortgage. Swift, reliable and very helpful. Very much appreciated. God bless you abundantly 👍👌🤝gareth P. ★★★★★ Been with Alison and team for more than 25 years. Needless to say, very happy...Jo T. ★★★★★ We have been using Ascot Mortgages for the last few years and they have done 11 buy to let products for us.We have found Alison, Phil, Jason, Jardelle and the team to be excellent at finding the best product for us and to work at pace when we are buying from auction and have a deadline to meet.Communication is very good and nothing is too much troubleBen H. ★★★★★ I can't recommend Ascot Mortgages highly enough.We have used them for all of our Mortgages . They are professional and friendly and have walked us through all our options, they always have the time to talk to you and go the extra mile to get you the best deal. It wont be long till I'm calling on their services again, I wouldn't go anywhere else.If you want a mortgage, there's only one place to go!Dog J. ★★★★★ Ascot went the extra mile to help me acquire a mortgage. With the help of Jason and Ellie I was able to get a competitive rate after 3 other firms had told me they couldn't help me. Great levels of communication throughout, I would highly recommend!Ursula B. ★★★★★ Alison was very friendly and professional in securing the right bridging for us and at a very competative price. This ensured that we were able to place an immediate offer and not miss out on our forever home. Later her help and support in finally getting our completion over the line was nothing short of a miracle. I would strongly recommend both Alison and the team at Ascot Mortgages.primrose C. ★★★★★ ALISON IS BY FAR THE BEST IN THE GAME. ALL WE CAN SAY IS THANK YOU SO MUCH. They are passionate on customer service, even in my frustrated time Alison, Jadelle, Ellie I could name them all. May the good LORD BLESS YOU.js_loader

Written by:

Alison Gibson

Ascot Mortgage Expert

Last Updated:

05.10.2023

Written by:

Alison Gibson

Ascot Mortgage Expert

Last Updated:

05.10.2023

What is a fixed rate mortgage?

Is your fixed rate deal ending? You can lock in a new fixed rate mortgage in advance to avoid any uncertainty. As a shrewd homeowner, you probably shopped around to get the best fixed rate deal that you could find when you either bought your home or renewed your mortgage. You will, no doubt, have benefited from the stability and security that a fixed term mortgage has provided and the ease of budgeting that comes with it. However what happens when your fixed term deal is about to come to an end?

Ascot Mortgages, market leaders, can guide you through the options to make sure that you can benefit from another cost effective mortgage arrangement. Ascot Mortgages offer a free initial consultation, creating a bespoke mortgage deal for you, saving you money and time in the process! Please contact us for a free initial chat about how we can arrange your next fixed rate mortgage for you.

When your fixed rate mortgage deal is coming to an end?

When a fixed term mortgage ends many homeowners find that they are once again thrown into the mortgage market, perhaps a few years after they last had to negotiate the many options available to them. Ascot Mortgages are the best people to call in this situation because of their knowledge of the market, which means that they can look through the various options for you. Often when a fixed term deal ends you would automatically revert to your lender’s Standard Variable Rate (SVR). Although re-arranging your mortgage deal may be the last thing on your mind as you get on with your busy life it really is worth contacting Ascot Mortgages to shop around for you, as the SVR is often not the most competitive rate. In addition, if you fail to keep an eye on your mortgage, you can often switch over to the SVR at the end of the fixed period without even realising how expensive it is likely to be. This is particularly problematic if you have enjoyed a fixed rate deal that has allowed you to budget and has been relatively affordable; therefore a rapid transition to the SVR may be an unwelcome change.

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Finding the cheapest fixed rate mortgage

Ascot Mortgages can utilise their market knowledge to find you an equally competitive deal as the one that you had previously had, meaning that you continue to benefit from the advantages of a fixed rate mortgage. These advantages 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 already benefited from one does not mean that you should not be able to take advantage of one again. Switching back to a fixed rate deal, as opposed to the generic SVR, means that you have continued stability and are locked into an offer that you know is not going to be affected by changes in the economic climate, which is especially prudent at the moment. 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!

Finding your next fixed rate mortgage after your current one ends

The end of you fixed rate deal does not have to mean a rapid inflation in your monthly mortgage repayments as you move on the lender’s SVR. By taking advantage of Ascot Mortgage’s free initial consultation, you can continue to enjoy the stability and security that a fixed monthly amount provides and ensure that you can continue to enjoy your hard-earned home without worrying about how much your mortgage will cost you.

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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 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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