Discounted Rate Mortgages
Discounted Rate Mortgages Explained...
Discounted rate mortgages are usually based on the lender’s Standard Variable Rate (SVR) less a percentage, determined by that particular mortgage lender. They are usually some of the best mortgage deals around but they will go up or down depending on if the rate moves.
The mortgage deals on Discounted Rate products usually last between 2 and 5 years and there will be penalties to pay if you wanted to change the mortgage type within this fixed period.
However, for those looking for a cheap mortgage deal but can afford the additional extra, should the rates go up, then this maybe the mortgage product for you.
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Self Employed builder and struggled with mainstream lenders to get a Mortgage, took me 5 minutes to complete the form and within a week I'd been sorted. Mark and the team helped me loads and love living in my own house.
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We sent an enquiry about a mortgage and within a few hours a Mortgage Adviser called and went through out details. We received Mortgage Offer in Principal which we sent to the Estate Agents and within a couple of months we were in. The service received is second to none.
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