Rated Excellent 4.8 out of 5 rating

Home
Mortgages
Fixed-rate mortgages

Fixed-rate mortgages

Compare fixed-rate mortgage deals

A fixed-rate mortgage locks your interest rate for a set period, usually 2 to 10 years, so your monthly repayments stay the same no matter what happens to interest rates elsewhere. That's the trade-off in a nutshell: you get certainty now, in exchange for missing out if rates fall during your deal.

Get started

Advisers who can look at mortgage rates from across the market
Get an expert-recommended deal
They can help you apply when you're ready

Our expert panel reviews all content. Learn more about our editorial standards and how we operate.

What is a fixed-rate mortgage?

A fixed-rate mortgage is a loan for buying a property where your interest rate stays the same for a set period. Your mortgage repayments won't change during that time, however much the market moves.

For example, on a £200,000 mortgage over 25 years fixed at 5.55%, you'd pay around £1,236 a month. If your rate is fixed, that figure doesn't move for the length of your deal, even if the Bank of England changes its base rate or your lender puts up rates for new customers.

This is different to a variable-rate mortgage, where the interest rate can change during your deal. That means your monthly repayments can go up or down.

Why choose a fixed-rate mortgage?

A fixed-rate mortgage is ideal if you want certainty over what you'll pay each month, for a set number of years. That makes budgeting a lot easier.

The upside:

Your monthly payment won't change during the fixed period, even if interest rates rise
It's easier to plan your budget when you know exactly what's coming out each month
You're protected if your lender's standard variable rate (SVR) shoots up

The downside:

If rates fall after you fix, you won't benefit until your deal ends
You'll usually pay early repayment charges (ERCs) if you leave before the fixed period is up
Fixed rates can sometimes start higher than variable rates, since you're paying for the certainty

When should you fix your mortgage rate?

It's worth fixing your rate if you want to know exactly what you'll pay each month, or if you think rates might rise before your next review. Consider fixing if:

You think mortgage rates may rise
You're worried you won't be able to afford higher repayments
You have a specific budget to stick to

If you're currently on your lender's SVR, the rate you're moved to when your initial deal ends, it's worth fixing. The SVR is usually higher than other fixed and variable deals on the market, so it's more expensive.

To avoid landing on your lender's SVR, look at remortgaging around 6 months before your current deal ends. Most mortgage offers are valid for 6 months, so you can lock in a new rate and switch when your current deal comes to an end, avoiding any ERCs. If rates fall before your new deal begins, you can switch again.

How long should you fix your mortgage for?

How long you should fix your rate for depends on your circumstances. Most fixed deals run for 2 or 5 years, though you can also get 3, 7 or 10-year deals, and some lenders go even longer.

Fixing for a shorter period means:

If rates fall after you fix, you can move onto a new deal quicker
Rates and fees are sometimes lower on shorter-term deals

Fixing for a longer period means:

You know exactly what you'll pay for longer
You remortgage less often, so you pay fewer fees over time

What our mortgage expert says:

"Choosing a fixed-rate mortgage means you know exactly what your repayments will be, giving peace of mind and protection against rising interest rates."

Ashlyn Trojnacki Mortgage Expert

Mojo's customer says:

“First time dealing with Mojo and I have to say that I am impressed. The advice, information & communication were excellent. Everything was handled professionally and the staff are extremely helpful, Bravo Mojo Mortgages.”

Simon - Mojo Mortgages customer (July 2026)

“Great experience so far. Have done exactly what they said they would do. Robbie has been great.”

Miss Begum - Mojo Mortgages customer (November 2025)

Mojo is rated

Mojo mortgages have a 4.8 rating based on 9939 reviews
as of 09/07/2026

Fixed-rate mortgages FAQ

What happens at the end of the fixed term?

You're moved onto your lender's standard variable rate, which is usually higher. This is normally more expensive than other fixed-rate deals on the market, so it's usually best to remortgage to a new deal rather than let it happen.

Can you leave a fixed-rate mortgage early?

Yes, but you'll usually have to pay early repayment charges or exit fees. Make sure you know what these are before you decide. Mojo's mortgage experts can help you work out whether leaving early and paying the ERC would still save you money overall.

Are fixed-rate mortgages more expensive?

They can be, initially. Fixed rates are often a bit higher than variable rates at the start, because you're paying for the certainty. But variable rates can rise during your deal, so a fix can end up cheaper if rates go up. Fixed-rate mortgages can also come with higher fees than variable deals, so it's worth comparing the total cost, not just the rate.

Is a 2-year or 5-year fix better?

It depends on how confident you are about your future plans and where you think rates are heading. A 2-year fix suits you if you might move house soon, or if you think rates will fall and want to switch again quickly. A 5-year fix suits you if you want longer certainty and don't want to remortgage as often, even if the rate is sometimes slightly higher.

Can I get a fixed-rate mortgage with a small deposit?

Yes, fixed rates are available at most deposit sizes, including 90% loan-to-value mortgages. Generally, the bigger your deposit, the lower the rate you're likely to be offered. See our guide to 90% LTV mortgages if you're working with a smaller deposit.

Page last reviewed: 9 July 2026

Reviewed by: Ashlyn Trojnacki

YOU SHOULD THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME/PROPERTY. YOUR HOME/PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The Financial Conduct Authority does not regulate mortgages for commercial or investment buy-to-let properties.

Confused.com is not a mortgage intermediary and makes introductions to Mojo Mortgages to provide mortgage solutions.

Confused.com and Mojo Mortgages are part of the same group of companies.

Confused.com 2nd Floor, Greyfriars House, Greyfriars Road, Cardiff, CF10 3AL, United Kingdom. Confused.com is a trading name of Inspop.com Limited and is authorised and regulated by the Financial Conduct Authority. FRN 310635

Mojo is a trading style of Life's Great Limited which is registered in England and Wales (06246376). We are authorised and regulated by the Financial Conduct Authority and are on the Financial Services Register (478215). Mojo’s registered office is The Cooperage, 5 Copper Row, London, SE1 2LH.

To contact Mojo by phone, please call 0333 123 0012.

Get a fixed-rate mortgage