The remortgage process does not have to be complex. Our partner advisers will guide you on the most appropriate mortgage deal for your situation and ensure the application is smooth.

Discounted Rate Mortgage Information

 

A Discounted Rate gives you a guarantee that for a period of time your interest rate will remain at a certain level below the variable rate. Hence if the current variable rate is 7% and your rate is discounted by 2% the rate you would pay would be 5%.

 

Advantages:

 

Gives a reduced repayment over the period of the discount

 

Repayments will reduce with interest rate falls

 

Disadvantages:

 

Repayments will rise with interest rates

 

May have to pay application and/or arrangement fees

 

Usually an early repayment charge of several months interest if redeemed during or shortly after discounted period