Best 5-Year Fixed-Rate Mortgages in the UK: Secure Your Future with Stability

Last updated: Feb. 20, 2025, 10:04 p.m.

Buying a home is one of the biggest financial decisions you’ll ever make, and securing the right mortgage can save you thousands of pounds in the long run. If you're looking for stability in your monthly payments and protection against rising interest rates, a 5-year fixed-rate mortgage is an excellent option. In this guide, we'll break down why a 5-year fix might be the right choice, how to find the best rates, and where to compare top mortgage deals.

Why Choose a 5-Year Fixed-Rate Mortgage?

A fixed-rate mortgage locks in your interest rate for a set period—five years in this case—giving you predictable monthly payments. This offers:

✔️ Protection from interest rate hikes – If the Bank of England raises rates, your mortgage payment won’t change.
✔️ Financial stability – You’ll know exactly what you’re paying every month, making it easier to budget.
✔️ Peace of mind – No need to worry about market fluctuations or remortgaging frequently.

However, there are some downsides to consider:

❌ Early repayment charges (ERCs) – If you want to pay off your mortgage early or switch to another deal before the five years are up, you might face penalties.
❌ Higher initial rates – Fixed-rate mortgages usually have slightly higher rates compared to variable deals.

How to Find the Best 5-Year Fixed-Rate Mortgage?

The best mortgage for you depends on your loan-to-value (LTV) ratio, credit score, and financial situation. Here’s how you can find the lowest rates:

1️⃣ Compare Lenders: Different banks and mortgage providers offer varying interest rates and terms. Always compare multiple lenders before making a decision.
2️⃣ Check Fees: Some mortgages with lower rates come with high arrangement fees. Look at the total cost over the fixed period, not just the interest rate.
3️⃣ Use a Mortgage Broker: A broker can help you find exclusive deals that aren’t available directly to consumers.
4️⃣ Improve Your Credit Score: A higher credit score can unlock better mortgage rates and lower monthly payments.
5️⃣ Consider Overpayment Options: Some fixed mortgages allow you to overpay without penalties, helping you reduce your overall debt faster.

Where to Compare the Best 5-Year Fixed-Rate Mortgages?

To make finding the best deal easy, we've compiled a list of the top 5-year fixed-rate mortgage offers from leading UK lenders. Click here to compare rates and find the mortgage that suits your needs.

Final Thoughts

A 5-year fixed-rate mortgage is a great choice if you value stability and want to lock in your interest rate for a longer period. However, it's essential to compare offers, understand the terms, and ensure it aligns with your financial goals.

📢 Ready to secure the best deal? Visit Compare Interest Rate to find the best mortgage offers today!