Fixed rate loans allow you to easily calculate your monthly budget for your loan.
The benefit of a fixed rate loan is that you know how much the interest on that
loan will cost you over a fixed period. Many loans offer a five year fixed rate
period at the start of the loan term.
Why look for a loan here?
Apply for loan 24 hours a day, 7 days a week
No obligation to take loan offered
Flexibility to pay off loan early
Problems with credit? We can help there too
Fixed rates available. Deals on fixed rates are limited
Find your loan in 2 minutes...
A fixed rate loan will help to take the worry out of whether the Bank of
England will put up interest rates again!
For example, if you take out a fixed rate loan at 5%,
in 3 year's time this rate could be 8% or more. A fixed rate loan
takes away this uncertainty because if you take a fixed rate loan
out now at 5%, in 3 year's time it will still be 5%.
On the negative side, if the Bank of England puts interest rates down, you will
end paying more than if you were on a variable rate.
There is no right or wrong choice when it comes to choosing a fixed rate loan
or a variable rate loan. It all depends on which type of loan
you feel more comfortable with.