Fixed rate mortgage

Yes, you can usually move house with a fixed rate mortgage. Many fixed rate mortgages have an option called ‘porting’, which allows you to transfer your existing mortgage to your new home.

However, this is subject to lender approval, and you may need to meet certain conditions. Find out more about porting a mortgage with NatWest.

Deciding between a 2 year or 5 year fixed mortgage depends on your personal situation.

A 2 year fixed rate could suit you if you think you might move home or change your mortgage in the next couple of years. You'll need to choose a new deal sooner and could be affected by interest rate changes earlier.

A 5 year fixed rate gives you longer-term certainty, with your rate and monthly payments fixed for 5 years. But if interest rates fall, you won't benefit until your fixed period ends.

Yes, you can end a fixed rate mortgage early, but it’ll likely come at a cost. Most lenders impose an Early Repayment Charge (ERC). This is a fee you’ll pay to end your mortgage deal before your fixed rate ends.

Yes, you can sell your house during a fixed rate mortgage. You may face extra costs depending on what you plan to do:

• Porting your mortgage – keep your existing mortgage rate and move it to a new property.
• Paying an Early Repayment Charge (ERC) – repay your mortgage before your agreed deal term ends.
• Getting a new mortgage – use the money from the sale to pay off your current mortgage and get a new mortgage on your new property. This may incur ERCs.

Yes, you can extend your mortgage term while on a fixed rate. This could lower your monthly payments but could mean you pay more interest in the long run.

If your lender supports the UK Mortgage Charter, you may also be able to return to your original term within six months.

Yes, you can change your fixed rate mortgage but whether you can do it without extra costs depends on when your current deal ends. If you're still within your fixed rate period, you may be charged an Early Repayment Charge.

Manage your mortgage online to see your options

Getting a fixed rate mortgage could be a good idea if you’re looking for:

• easy budgeting
• stable monthly payments
• protection from rising interest rates.

Yes, you may be able to change your mortgage to interest only, but your options depend on whether you want a temporary or permanent change. For more information, speak to your mortgage lender.

With a fixed rate mortgage, your interest rate stays the same for a set period, such as 2 or 5 years. Interest is usually calculated daily on the amount you still owe.

As your mortgage balance reduces, more of your monthly payment goes towards repaying your mortgage, while your monthly payment usually stays the same during the fixed rate.