A fixed rate mortgage is a classic solution for the purchase of a main or second home, property to let and also for the refinancing of new or existing property including new building, renovation works on either your main or your second home. It particularly appeals to those seeking simplicity as the interest rate is fixed for the duration of the loan.
However, just be aware that compared to a variable rate, in the case of interest rates falling, you won’t have the possibility of saving money and you would have to pay penalties in the case of early repayment.