Whatever your politics, headlines warning of the “Unchartered Territory” and predictions on the vote around the “Withdrawal Agreement” mean we are heading into uncertain times.

In 2018, Mortgage Required’s clients opted for a 5-year fixed rate 28% of the time. The highest since number since we opened in 2001.

Brexit is not the only reason clients are deciding to fix their rates for longer, with 5-year rates as low as 2.09% for borrowers with plenty of equity in their properties, and at 2.29% for borrowers with a 10% deposit there has never been a better time to hedge your bets and fix for longer.

Depending on who’s research you read, between 25 and 30% of borrows are currently on their lenders “Standard Variable Rate” (SVR). This means they are paying a rate set by their lender who can put it up (or down) whenever they fancy. On average lender’s SVRs are around 2.5% higher than the fixed rates they are offering and this means borrowers could be paying up to £4,000 per year more than if they switched to a new deal.

So, whether it’s a “deal or no deal” now is the time to get fixing!

For more information on fixing your mortgage, please call the team on 01628 507477.

Your home may be repossessed if you do not keep up repayments on your mortgage.

There will be no fee for Mortgage Advice. There may be a fee for arranging a mortgage. The precise amount will depend upon your circumstances, but we estimate it to be between £399 and £599.

Mortgage Required Ltd, Finance House, 5 Bath Road, Maidenhead, SL6 4AQ is authorised and regulated by the Financial Conduct Authority reference 573718 at www.fca.org.uk.

The Financial Ombudsman Service is an agency for arbitrating on unresolved complaints between regulated firms and their clients. More detail can be found on their website: www.financial-ombudsman.org.uk