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.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
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Mortgage Connections UK Ltd is an appointed representative of Quilter Mortgage Planning Limited who are part of the Quilter Group of companies, 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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