Best 3 year fixed rate mortgages - December 2025

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TSB

3 year fixed

Monthly payment

£1,353
Initial rate

4.24
Product fees

£995
Initial term cost

£49,701
APRC

6.8%

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Representative example: a repayment mortgage amount of £250,000 over 25 years, representative APRC 6.8%. Total amount payable £522,060.44 includes interest of £271,065.44 product fees of £995 and other fees of £0. Repayments: 38 months of £1,352.95 at 4.24% (fixed), then 262 months of £1,792.57 at 7.49% (variable). Early repayment charges apply.

Great for

£250 cashback
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Halifax

3 year fixed

Monthly payment

£1,354
Initial rate

4.25%
Product fees

£999
Initial term cost

£49,856
APRC

6.7%

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Representative example: a repayment mortgage amount of £250,000 over 25 years, representative APRC 6.7%. Total amount payable £520,641.80 includes interest of £269,542.80 product fees of £999 and other fees of £100. Repayments: 40 months of £1,354.35 at 4.25% (fixed), then 260 months of £1,789.88 at 7.49% (variable). Early repayment charges apply.

Great for

£250 cashback

Bank of Ireland

3 year fixed

Monthly payment

£1,359
Initial rate

4.28%
Product fees

£1,495
Initial term cost

£50,418
APRC

6.6%

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Representative example: a repayment mortgage amount of £250,000 over 25 years, representative APRC 6.6%. Total amount payable £511,879.68 includes interest of £260,174.68 product fees of £1,495 and other fees of £210. Repayments: 38 months of £1,358.55 at 4.28% (fixed), then 262 months of £1,750.19 at 7.19% (variable). Early repayment charges apply.

Great for

Free valuations

What is a three-year fixed-rate mortgage?

A three-year fixed-rate mortgage is a type of home loan where your interest rate and monthly repayments stay the same for three years. This means your payments won’t change during that period, no matter what happens to the Bank of England’s base rate. It can offer peace of mind and stability if you want slightly longer protection against potential rate rises than a shorter two-year deal.

When the three-year fixed term ends, you’ll usually have the option to switch to another fixed or variable-rate mortgage without paying an early repayment charge. If you don’t, your lender will move you onto their standard variable rate (SVR), which is often higher. To avoid higher repayments, many borrowers look to remortgage before the SVR starts.

Pros
- Your repayments will stay the same for the three years when your initial rate applies, giving you stability and helping you plan your budget with confidence
- Knowing exactly what you’ll pay each month makes it easier to manage your finances without worrying about rate changes.
- A three-year fix offers a good balance - it’s longer than a two-year deal, giving you extra peace of mind, but not as much of a commitment as a five-year term.
- If interest rates rise during your fixed period, your payments won’t be affected, potentially saving you money compared to a variable-rate deal.
Cons
- If interest rates fall, you won’t benefit from lower repayments in the way you would with a variable or tracker-rate mortgage.
- At the start of your three-year fixed-rate deal, you may pay a slightly higher rate than with shorter-term fixes.
- You’ll still need to remortgage relatively soon after the three-year period ends, which could mean paying new product or arrangement fees.
- If you repay or switch before the end of your three-year term, you may face an early repayment charge.

Can I fix a mortgage for a longer period?

Yes, if you’d like more long-term stability than a three-year fixed-rate mortgage provides, you can choose a five-year or even a ten-year fixed-rate deal. These longer fixes allow you to lock in your interest rate and monthly repayments for a greater period of time, helping you plan your finances with more certainty.

Compared to a three-year fixed-rate mortgage, longer-term options can offer extra peace of mind if you’re expecting interest rates to rise or want to avoid remortgaging as often. They can also help you save on product fees that come with switching deals more frequently.

However, if you repay your mortgage or switch to a new deal before the end of your fixed term, you may face an early repayment charge - so it’s worth considering how long you’re comfortable committing to your current mortgage.

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