Discounted Rate Mortgage
With the interest rate rises over the past 12 months, everyone wants to feel secure!
Let us search the whole market for the lowest rates, the biggest discounts - the current 'best buys'.
Let us find you - the current best discount rates.
Your home may be repossessed if you do not keep up repayments on your mortgage.
For mortgage advice you can choose how we are paid: -
- No fee. We will receive commission from the lender when your mortgage completes.
Or
- A fee. A fee of typically £580 payable on completion of your mortgage. Any commission received from the lender will be refunded to you.
Or
- A combination of a fee & commission. A fee of typically £280 payable on completion of your mortgage In addition we may receive commission from the lender.
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A 'Discount Rate' Mortgages maybe the cheapest . . . . but is it for me?
A bit more background: -
- The discount is a specified percentage rate below the standard variable rate (SVR).
- The longer the term a discount applies - the higher the discount.
- Payments, albeit discounted will rise and fall with interest rates!
- The standard variable rate will apply after the discounted period.
- Can I afford the repayments when the discount ends?
The benefits!
- Reduced intial costs provide savings (when they might be most needed).
- The 'discount' applies even when interest rates come down - more savings!
What about the downsides?
- Arrangement fees are aften charged by Lenders, increasing your initial costs.
- When interest rates rise, so too do your payments (albeit they are still discounted).
- Charges will apply if you repay the mortgage during the discounted period (and may continue for some time after).
- Mortgage payments may 'shoot up' when the discounted period ends.
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Your home may be repossessed if you do not keep up repayments on your mortgage.
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For mortgage advice you can choose how we are paid: -
- No fee. We will receive commission from the lender when your mortgage completes.
Or
- A fee. A fee of typically £580 payable on completion of your mortgage. Any commission received from the lender will be refunded to you.
Or
- A combination of a fee & commission. A fee of typically £280 payable on completion of your mortgage In addition we may receive commission from the lender.
For a selection of the best buys & impartial advice . . . .
