Since the start of the year, there’s been a bit of good news for first-time buyers, or homeowners who are looking to re-mortgage their property. The market is growing increasingly competitive and so lenders are now reducing their rates to stay in the game. This has come at a time when the rumours are spreading about the house prices and the lack of interest in buying property.

So, if you’re thinking of buying a property, it seems that now is better than ever. But how do you know whether a mortgage deal is a good one with everything changing all the time? We’ve put together a little guide based on what’s out there at the moment. Fixed-rate mortgages are popular in the UK, as you know exactly what you’re paying out each month.

However, many deals often start low, but after time, it switches to a higher, variable rate and you could end up spending a lot more than originally predicted.

Should I get a mortgage adviser?

We always recommend getting a mortgage adviser as they have the experience and expertise to compare the entire market and find the best deal to suit your circumstances. What’s more important is that they will be able to recommend a lender who is more likely to approve you based on your finances. Therefore, you do not need to worry about ruining your credit rating.

Are there disadvantages of fixed-rate mortgages?

There isn’t a one-solution-fits-all when it comes to mortgages so there will be some cons of fixed-rate mortgages. Here are the ones we can think of:

  • Some fixed-rate mortgages cannot be transferred, which means you’ll end up paying exit fees if you move home.
  • If interest rates drop during your term, you will end up paying more compared to other mortgage types.
  • At the end of your term, you will need to re-mortgage your property if you want to avoid paying the Standard Variable Rate, which is a bit time-consuming.

The best fixed-rate mortgages 2019

So here are our recommendations organised by term length and based on a property worth £250,000, borrowing £200,000.

(These rates were taken from L&C on the 23 January 2018)

Best 2 year fixed rate mortgages


Best 3 year fixed rate mortgages


Best 5 year fixed rate mortgages