Mortgage Types...

Fixed Rate

Few things in life are certain. The economy, jobs, even house prices. All these things and many more, can and do affect interest rates. And if interest rates do change, they can affect your monthly mortgage repayments significantly. Fixed Rate Mortgages can protect you from unwanted interest rate rises by securing your rate for a chosen period

With a fixed rate mortgage you'll know what your monthly repayments will be because they stay the same, regardless of what happens to interest rates generally.

Tracker 

If you want your rate to reflect changes in the Bank of England Base Rate, then a Tracker mortgage could be the choice for you. Every month the Bank of England sets the Base Rate. Often the rate remains unchanged, but the Bank of England can raise or lower the base rate as necessary from month to month.

A Tracker mortgage has a rate that is set at a percentage above the Base Rate and any rate changes will be passed on to you.

Discounted

Discounted Mortgages are designed to lower your payments in the first few years to help you avoid financial cutbacks in other areas.

These rates offer a discount on a lenders Standard Variable Rate for a chosen period at the start of your mortgage. However, remember that the discounted rate follows any movement in the lenders Standard Variable Rate, so the level of your payments can go up as well as down.

Which one is
right for me??

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