26 Mar 2025
Should I go for a two-year or five-year fixed rate?
Choosing which fixed rate to go for has been a dilemma for many of our clients so far this year. There really isn’t a right or wrong answer, but below we look into the pros and cons of a two-year and a five-year fixed rate to help make the right decision for you.
Two-year fixed rate
Pros
- Greater flexibility - this could be suitable for those who are expecting changes in their financial situation, or looking to move in the short term
- Opportunity to benefit if rates go down
Cons
- Frequently having to remortgage - it is likely you will pay a lender fee to secure the product each time which will add up
- Uncertainty - you will have less protection against changes in mortgage rates
Five-year fixed rate
Pros
- Long-term stability which could provide peace of mind
- Ability to financially plan and budget your monthly mortgage costs are going to be each month irrespective to any changes in the mortgage market
Cons
- Less flexibility
- Not ideal for those expecting changes in their financial situation, or those planning to move
- Potentially higher penalties for overpayments or ending your mortgage term early
You could even hedge your bets and consider going for a three-year fixed rate. Make sure you look at the differences between the current fixed rates to help you make an informed decision about which rate suits you best.
Remember to contact the friendly team at Mortgage Required who have access to whole of market, therefore, we can help to find you the best available rate: 01628 507477 or email: team@mortgagerequired.com
Recent posts
Maidenhead, Berkshire – 26th January 2026 – Dedicated independent mortgage experts, Mortgage Required, are delighted to have acquired fellow experienced brokerage, Y-Not Finance.
The acquisition connects two well-respected brokerages, both with a wealth of experience and shared values, to continue providing the best advice on all aspects of the mortgage market.
As part of the UK government’s plans to change the leasehold system to help families struggling with unaffordable ground rent costs.
The Prime Minister announced this morning (27 January) that ground rents will be capped at £250 per year, reverting to a peppercorn rate after 40 years.
Best UK Mortgage Rates this Week
7 days ago
Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
Additional borrowing, also known as a further advance, is when you borrow more money on your existing mortgage for a specific reason agreed with your lender.
Here are five of the most common reasons for additional borrowing.
UK Housing Market Round-Up: 2025
30 Dec 2025
Property search site Zoopla has estimated that the UK housing market will end 2025 with approximately 1.15 million completed sales – 4.5% more than the previous year.
Take a look at the 2025 summary of the UK housing market.
Buying in the New Year
29 Dec 2025
If buying your first property, or moving home, is on your to-do list this year, the new year can be a great time to take this big step. In this short blog, we look at what you need to consider as you plan and prepare for your home-buying journey.
Just because the Bank of England decides to reduce the base rate, this doesn't automatically mean that your mortgage rate will go down.
Autumn Budget 2025: A Summary
26 Nov 2025
Chancellor, Rachel Reeves, has delivered the Autumn 2025 budget. We have summarised the government's plans for tax and spending.
More information
Trusted by
