Compare our top five-year fixed-rate mortgages

Find a five-year fixed-rate mortgage that is right for you

Property price

£

Mortgage amount

£

Mortgage term

years

Initial rate type

Deal length

Repayment type

We've found 503 mortgage deals

Yorkshire Building Society

5 Year Fixed

Initial rate

2%

until 30-09-2024

APRC

3.8%

overall cost for comparison

Set-up fees

£1,495

Monthly payment

£720.55

for 60 months

Halifax

5 Year Fixed

Initial rate

2.04%

until 31-08-2024

APRC

3.5%

overall cost for comparison

Set-up fees

£1,495

Monthly payment

£723.87

for 60 months

TSB

5 Year Fixed

Initial rate

2.04%

until 31-08-2024

APRC

3.4%

overall cost for comparison

Set-up fees

£995

Monthly payment

£723.87

for 60 months

Existing current account customers only

TSB

5 Year Fixed

Initial rate

2.04%

until 31-08-2024

APRC

3.4%

overall cost for comparison

Set-up fees

£995

Monthly payment

£723.87

for 60 months

TSB

5 Year Fixed

Initial rate

2.04%

until 31-08-2024

APRC

3.5%

overall cost for comparison

Set-up fees

£995

Monthly payment

£723.87

for 60 months

TSB

5 Year Fixed

Initial rate

2.04%

until 31-08-2024

APRC

3.5%

overall cost for comparison

Set-up fees

£995

Monthly payment

£723.87

for 60 months

TSB

5 Year Fixed

Initial rate

2.04%

until 31-08-2024

APRC

3.4%

overall cost for comparison

Set-up fees

£995

Monthly payment

£723.87

for 60 months

Halifax

5 Year Fixed

Initial rate

2.04%

until 31-08-2024

APRC

3.6%

overall cost for comparison

Set-up fees

£1,495

Monthly payment

£723.87

for 60 months

TSB

5 Year Fixed

Initial rate

2.04%

until 31-08-2024

APRC

3.4%

overall cost for comparison

Set-up fees

£995

Monthly payment

£723.87

for 60 months

Barclays

5 Year Fixed

Initial rate

2.06%

until 31-07-2024

APRC

3.5%

overall cost for comparison

Set-up fees

£999

Monthly payment

£725.53

for 60 months

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Representative example:

If you borrowed £200,000 payable over 25 years, with an initial fixed-rate for two years at 4.79%, your monthly payments would be £1,144.84 for 24 months. This would then revert to a standard variable rate (SVR) of 4.24% for the remaining 23 years, costing £1,086.24 per month for 276 months. Overall cost for comparison is 4.5% APRC representative. The total amount payable over the full term would be £328,272, including product fee of £995 and interest of £127,277.

Your home may be repossessed if you do not keep up repayments on your mortgage.

What is a five-year fixed-rate mortgage?

Five-year fixed-rate mortgages provide a fixed interest rate for five years. During this period your monthly mortgage repayments will not change, even if the Bank of England increases the base interest rate or your bank hikes its standard variable rate (SVR).

Calculate your monthly mortgage repayments

After five years, the mortgage will revert to your lender’s SVR, which will be quite a lot higher than your fixed rate. As of June 2019, five-year fixed rate mortgages are at around 2.2%; most SVRs are at around 4%. On a mortgage of £200,000 over 25 years, your monthly repayments would go from £867 to £1,056 - a difference of almost £200 per month.

As with all fixed-rate mortgages, you will likely be charged a hefty fee if you overpay (to clear your debt more quickly) or repay your mortgage entirely (remortgaging or switching mortgages) before the end of the five-year promotional period. This fee varies between mortgages, but generally it’s around 3% to 5% – which will likely be thousands of pounds, unless you have a very small mortgage.

Five-year fixed rate mortgages offer a balance between two-year fixed rate mortgages, which might not offer enough security for some people, and 10-year fixed rate mortgages, which are costly and can lock you in for a long time.

You can compare five-year fixed-rate mortgages using the table at the top of this page.

Compare 10-year fixed rate mortgages

Can you get a five-year fixed rate mortgage?

Q. What is the longest fixed rate mortgage I can get?

The longest fixed-rate mortgage deal in the UK is 10 years. You will pay a pretty hefty premium for financial security, though: the interest rate is usually about 0.5% higher than the best five-year fixed rate deals. Over 10 years, that’s a lot of extra interest.

Q. Are fixed rate mortgages the best deals?

It all comes down to whether you need the financial security of a five-year fixed rate mortgage. Better interest rates are certainly available if you can live with a two-year fixed rate mortgage (lowest is 1.24%) or a tracker or discount rate mortgage.

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Last updated: 12 June, 2019

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