If you go to an independent mortgage adviser like Mortgage Required who are not restricted to just one lender, then you will see lots of different mortgages, all with different terms. Some have a low starting rate of interest, some low arrangement fees. Others will have capped or fixed rates of interest for 2, 3 5 or even 10 years. The choice can be confusing.
It’s important to consider things like how long you expect to stay at the property, whether you are likely to want to re-mortgage any time soon and what you expect to happen to interest rates in the short and medium terms.
This is important because when a lender offers you a low initial rate of interest or an amazing fixed rate for say two or five years, they are is doing so on the assumption that you will not change mortgage within an agreed period of time.
This is the “tie in period” If you do, then the mortgage agreement will probably set out a variety of penalties and fees that you will be required to pay. The fee amount will vary but the period during which such a fee may be charged is sometimes referred to as the ‘tie-in period’. The fee is usually referred to as an ‘early redemption penalty’.
In most cases, if a fixed or capped rate of interest is for 3 years then the tie-in period is likely to reflect this.
Contact us on 01628 507477 for more information or to speak to a mortgage adviser.
Download our Free First Time Buyers Guide
Recent posts
This price gap between the cost of houses and flats is the biggest it has ever been. Houses are now costing 1.7 times more than a flat, which is 0.4 times higher than 10 years ago
Take a look at our list of houses vs. flats per area.
Best UK Mortgage Rates this Week
2 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.
Are mortgage rates set to increase?
9 days ago
We have seen several lenders increase their mortgage rates over the last couple of weeks. This suggests mortgage rates are likely to rise.
Although nothing is set in stone, lender repricing, rising swap rates, and continued economic uncertainty suggest borrowers should prepare for higher mortgage costs.
AI-altered images put off over half of buyers
25 days ago
According to data from House Buyer Bureau, where over 900 UK homebuyers were surveyed, 54% of people said that they immediately ruled out digitally enhanced property listings.
April Mortgages offer 7x Income Mortgage
13 Aug 2026
April Mortgages - only accessed via a mortgage broker - offers first-time buyers, renters, and home-movers the option to borrow up to 7 times their income on its longer-term mortgages.
Andy Burnham’s Potential Changes
22 Jul 2026
Despite the Prime Minister not yet announcing any policies to abolish or change Stamp Duty, speculation persists that this could become government policy.
Burnham, who officially became Prime Minister on Monday, 20th July, has expressed strong support for a significant reform of property taxes over recent years. He said that he will deliver “the most significant change moment in our politics for 40 years.”
Young borrowers concerned about credit score
7 Jul 2026
Almost half of young adults are worried about their credit history stopping them from renting or buying a property, according to data from Loqbox
How to add value to your property this summer
26 Jun 2026
Different seasons can have a noticeable effect on property prices.
Research from Zoopla shows that spending out on certain features can fetch up to £29,000 during the summer months.
More information
Trusted by
