Remortgaging in Oxford? To Fix or Not to Fix…?

Last updated: August 24, 2023

Beer fridge with mortgage sticker on front

Welcome to the enchanting city of Oxford, where the ‘Dreaming Spires’ and the echoes of centuries-old knowledge beckon from every corner. As you stroll past landmarks like the Bridge of Sighs, the Ashmolean Museum, and the prestigious Oxford University, you might find yourself contemplating matters beyond history and academia – like your mortgage! If you’re a homeowner in this captivating city or its charming surroundings in Oxfordshire, you’re likely no stranger to the property market’s twists and turns. And now, as your fixed-rate mortgage deal approaches its end, you’re faced with a choice: to fix or not to fix? Let’s dive into the debate and see whether you should consider remortgaging to a fixed rate.


Which Is Better Now: Fixed or Variable-Rate Mortgage?

The property market is often as unpredictable as an Oxford summer – you never quite know what you’ll get. In such a scenario, deciding between a fixed-rate and a variable-rate mortgage can feel like making a leap of faith. Here’s a breakdown to help you navigate this decision:

Fixed Rates: Steady as the ‘Dreaming Spires’

Imagine locking in a rate that remains as constant as the historic structures that define Oxford’s skyline. Fixed-rate mortgages offer stability – your interest rate and monthly mortgage repayments remain unchanged for a set period, typically 2 to 5 years. This can be a reassuring choice, especially when there’s uncertainty in the property market. If house prices decide to take a rollercoaster ride, your mortgage payments remain unaffected, much like the timeless halls of Oxford University.


  • Predictable Payments: You’ll know exactly how much you must pay each month, making budgeting easier.
  • Protection: If interest rates rise, your mortgage rate won’t budge, keeping your finances safe from unexpected hikes.


  • Higher Initial Rates: Fixed-rate mortgages often start with higher interest rates compared to variable rates.
  • Less Flexibility: If market rates drop, you won’t benefit from the reduced payments unless you remortgage again.

Variable Rates: Navigating the Shifting Currents

Variable-rate mortgages, on the other hand, are akin to the River Thames flowing through Oxford – sometimes calm, sometimes turbulent. These mortgages are linked to a base rate, such as the Bank of England’s, and can rise or fall based on market conditions. It’s a bit like enrolling in a course at Oxford – you’ll learn to adapt to change.


  • Lower Initial Rates: Variable rates often start lower than fixed rates, potentially saving you money initially.
  • Chance for Lower Payments: If interest rates decrease, your monthly payments could follow suit.


  • Uncertain Payments: Your monthly payments can increase if interest rates rise, making budgeting a bit trickier.
  • Market Sensitivity: Your mortgage repayments are tied to market conditions, introducing an element of uncertainty.

The Bridge of Sighs, Oxford

Should You Remortgage to a Fixed Rate Now?

As your fixed-rate mortgage deal ends, you’re presented with a unique opportunity to reassess your financial situation. Here are a few factors to consider when deciding whether to remortgage to a fixed rate:

  1. Current Interest Rates:

Research the current interest rates for both fixed and variable mortgages. If the gap between the two is narrow, a fixed rate might provide better stability, considering potential interest rate hikes in the future.

  1. Future Rate Predictions:

Consult financial experts or mortgage brokers to understand where interest rates might be headed. If there’s speculation of a rate hike, fixing your mortgage could shield you from the impact.

  1. Your Financial Situation:

Assess your financial stability. If you can comfortably manage slight fluctuations in your monthly payments, a variable-rate mortgage might not be as daunting.

  1. Long-Term Plans:

Consider your long-term plans for the property. Are you planning to stay for the long haul, or is this a shorter-term investment? Your answer could influence the choice between fixed and variable rates.

  1. Peace of Mind:

Factor in your personal tolerance for risk. If the thought of your mortgage payments suddenly spiking keeps you up at night, a fixed rate could offer the peace of mind you need.

Pretty Oxford houses

Navigating the Oxford Mortgage Maze

Oxford’s city centre, with its bustling streets, the iconic Carfax Tower, and the majestic Westgate shopping centre, is a microcosm of the property market – full of twists and turns, each leading to a new opportunity. But just as a student relies on a map to navigate Oxford University’s sprawling campus, you might need some expert guidance to navigate the mortgage landscape. This is where mortgage brokers step in.

Mortgage Brokers: Your Guides in the Mortgage Jungle

A mortgage broker, especially one familiar with Oxford and its property market, can be your best ally. They’re like your personal tutor, guiding you through the complexities of remortgaging. They can help you find the most suitable remortgage deals, negotiate terms, and streamline the mortgage application process. Whether you’re in Jericho, Summertown, or Headington, an experienced mortgage broker in Oxford can be a valuable resource.

Hudson Rose team in front of pink office

Embracing Your Oxford Remortgage Journey

Much like the diverse colleges that make up Oxford University – from the historic Christ Church to the modern Worcester College – your remortgage journey is unique. The decision to fix or not to fix depends on your circumstances, risk tolerance, and market insights. As you stand at this crossroads, take a moment to appreciate the landmarks that surround you – the ‘Dreaming Spires,’ the Ashmolean Museum, and the legacy of knowledge that Oxford is built upon. And when you’re ready to make your decision, remember that a mortgage broker is like a tutor, ready to guide you toward the best path for your financial future. Whether you’re drawn to the stability of a fixed rate or the potential of a variable rate, the choice is ultimately yours to make.

So, as you sip your tea in a cozy Oxford cafe, gazing out at the timeless cityscape, remember that your mortgage decision, much like this city, is a blend of tradition and modernity, guided by your aspirations and the expertise of those who understand the nuances of the journey.


Hudson Rose are a friendly bunch of highly experienced mortgage advisors who are always on hand to help guide you through the entire remortgage process. You can kick start the journey up to six months before your current rate ends so give them a call today to chat through your options.



More blogs from the Hudson Rose gang:

6 reasons to move to Oxford

Want to get on top of your finances? Start with a budget planner

How to source a mortgage for your Oxford property purchase


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Hudson Rose Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.
Hudson Rose Services Ltd, trading as Hudson Rose. Registered Office: 7 Bridge Street, Nailsworth, Stroud, GL6 0AA
Registered Company Number: 11008147 Registered in England. FCA 799302

Hudson Rose Services Cirencester Ltd, trading as Hudson Rose. Registered Office: 78 Dyer Street, Cirencester GL7 2PF Registered Company Number: 13349772 Registered in England

There may be a fee for arranging a mortgage and the precise amount will depend on your circumstances. This will typically be £499. There is no charge for any initial consultation.

Your Home may be Repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Not all forms of Property Development Finance are regulated by the Financial Conduct Authority

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