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Fixed rate mortgage

A fixed rate mortgage is where the interest rate on your mortgage remains fixed for an agreed amount of time.

What are the benefits of a fixed rate mortgage?

A fixed rate mortgage could help you budget your monthly outgoings, as you would know exactly what your monthly repayments would be. Repayments may prove more expensive than a discount rate initially, and may also become uncompetitive later on as interest rates may fluctuate over the period of the fixed rate.

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