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15 Oct 2019

Mortgage Advice

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Fixed Rate Mortgage no ERC

Fixed Rate Mortgage no ERC

A Fixed Rate without an early repayment charge ( ERC ) could be right for you.

 With a fixed rate mortgage the monthly repayment amount is fixed for a specified period irrespective of changes to the Bank of England's base rate or the lenders standard variable rate.

Advantages and Disadvantages of a fixed rate mortgage without an erc

Advantages

  • Peace of mind that your mortgage payment will be safe guarded against increases in the lenders standard variable rate during the fixed rate period.
  • Early redemption penalties will not be charged offering flexibility

 

Disadvantages

  • You will normally have to pay an application fee when arranging your fixed rate mortgage.
  • The interest rate payable will usually be higher than the equivalent fixed rate mortgage with a early repayment charge.

 

Fixed rate mortgages for further information

I am remortgaging  I am moving home

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.

Go Direct.co.uk is a trading style for website purposes of Go Direct UK Ltd.

Go Financial Services is a trading style of Go Direct UK Ltd which is an appointed representative of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales Company 5703224. FCA Number 456600

We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £500