DISCOUNT RATE MORTGAGE
Discount Rate Mortgage
The lender offers a discount off their standard variable rate for a set period, normally one or two years. Your mortgage payments will still vary in line with changes in the standard variable rate. At the end of the discount period, your mortgage interest rate will be the same as the lender’s standard variable rate. This product may carry an early repayment charge.
Is it right for me?
Yes – If money is tight when you first take out the mortgage, but you’re confident your income will increase.
No – If you won’t be able to cope if interest rates
Why not speak to an advisor to see how we can help you find the right mortgage deal.
Alternatively, see an explanation of the Capped & Collar rate mortgages product.
SOME BUY TO LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.
THINK CAREFULLY BEFORE SECURING DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
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Mortgage Connections UK Limited is an appointed representative of Quilter Financial Services Limited and Quilter Mortgage Planning Limited which are authorised and regulated by the Financial Conduct Authority.
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
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