Getting out of a fixed rate?

Q: Is there any solution to get out of the 2 year fixed rate that we have, and would it be wise as we would incur penalties to change?

A:

There are actually two questions here. Firstly, is there any solution to get out of your fixed rate? The answer to this is yes, it is possible. We can help you by looking at both your existing lender and others who may be able to offer you a better deal. This leads into the second question, which is would it be wise? To be able to address that, it would be necessary to have a lot more information, such as the interest rate being paid, how long it has left and the amount of the penalties. We can then carry out an analysis for you, taking into account the potential savings from a lower interest rate and all the costs involved to give you the complete picture.

These questions are for information purposes only and do not contain all the details you need to choose a mortgage, ask one of our advisers for a personalised key facts illustration

Return to the Questions archive

Our insights


We are the UK’s leading specialist in delivering innovative and bespoke financing solutions to global clients.

Reviews


Specialists in creating innovative and bespoke funding solutions.

Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Changes in the exchange rate may increase the sterling equivalent of your debt. You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing any other debts against your home.  

largemortgageloans.com is a trading name of Largemortgageloans.com Ltd, Aegon House, Ground Floor Suite, 13 Lanark Square, London, E14 9QD authorised and regulated by the Financial Conduct Authority (FCA). Our FCA registration number is 302228 and can be viewed by visiting the FCA website: www.fca.org.uk.  The FCA does not regulate tax advice or some aspects of commercial, buy to let, overseas mortgages, bridging finance, finance and asset lending.  

Largemortgageloans.com Limited is registered with the Guernsey Financial Services Commission, reference number: 2269418, as a Non-Regulated Financial Services Business.  

Largemortgageloans.com Ltd Registered in England and Wales No: 5070990 Registered Address: As above. The guidance and advice contained within the website are subject to the UK regulatory regime and is primarily targeted at UK customers. Calls may be recorded for training and monitoring.