Liberty Partnership

Mortgage Advice Lincolnshire: The Benefits Of A Fixed Rate Mortgage

Mortgage advice Lincolnshire is something to be taken very seriously. If you want to buy your first home, move house, or invest in a buy-to-let property, getting the right mortgage advice to suit you is essential. It can be a complicated process, so having all the information to hand is important.

One popular type of mortgage that you may be able to apply for with help from Lincolnshire financial advisors is a fixed rate mortgage. What is it and what are its benefits? A fixed rate mortgage is one for which the interest rate remains the same for a fixed number of years, usually two, three or five. You may be able to find a 10 year deal, but your financial advisor Cambridge may advise against this as there is potential to lose a lot of money in this way. This fixed rate may be a little higher than the standard rate, but the main benefit of having a mortgage such as this is that you will know to the penny exactly how much you will be paying out each month. This makes it much easier to budget accordingly. Not only that, but a fixed rate mortgage means that you don’t have to make any adjustments to your lifestyle if the interest rates go up. On a variable rate mortgage, an interest rate rise could mean additional payments of hundreds of pounds, depending on your mortgage and the rate increase. This is not going to happen with a fixed rate mortgage.

No matter whether you want a fixed rate mortgage or not, getting mortgage advice Lincolnshire based from Liberty Partnership Ltd is an excellent way to begin the process. We can give you the pros and cons to each deal. See more at https://liberty-partnership.co.uk or contact us on 01778 342291. You can also email on advice@liberty-partnership.co.uk.