Fixed-Rate Mortgage

By Justin Whitelock

Founder of Mortgage London (a trading style of City Finance Brokers Limited, authorised and regulated by the Financial Conduct Authority, FCA No. 766295)

A mortgage where the interest rate stays the same for a set period, such as two, three, five, or ten years, providing payment predictability.

Related glossary terms

Foreign Currency Income

Income paid in non-sterling currencies, with lenders applying a discount to the converted sterling figure to reflect currency volatility.

Decision in Principle (DIP)

A lender’s provisional view of how much an applicant may be able to borrow before submitting a full mortgage application.

Expat Buy-to-Let

A buy-to-let mortgage for expatriates, evaluated through specialist criteria considering overseas residence and foreign income factors.

Stable Currency

An informal lender label for currencies regarded as relatively reliable for affordability assessment, such as the US dollar, euro, or Swiss franc.