Aspect Learning Guide
Fixed rate
A fixed rate gives repayment certainty for a set period, but can reduce flexibility and may involve break costs.
Fixed rate explained in plain English
A fixed rate gives repayment certainty for a set period, but can reduce flexibility and may involve break costs.
How it works
The rate is fixed for an agreed period.
Benefit
You know what your repayments will be during the fixed term.
Trade-off
You may have less flexibility, fewer offset features and possible break costs.
General information only: This guide does not take into account your personal objectives, financial situation or needs. Lending policy varies between lenders.