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Free mortgage advice |
Discounted mortgages |
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Mortgage Types |
Lenders are offering more different types of mortgages than ever with over 15000 mortgage policies available you are almost guaranteed to find one that ideal for you.
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Capped |
This is very similar to fixed rate mortgages in that it's only for a certain period of time. With capped it also means that your monthly payments will not go higher than the amount stated when taking out the mortgage (this is during the time period given).
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Discounted |
The discount rate is lower than the lenders and is only for a period of time. Once the period has ended then the rate will revert back to what the lender is offering. This type of mortgage is great for first time buyers.
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Fixed Rate |
The maximum rate is fixed for a period of time, this may be for 3 years or it can be for 10 years.
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| Variable |
A variable mortgage is one which changes interest rates according to the rates supplied by the lender. If the lender decided to raise the interest rate then your monthly repayments would go up in relation to the percentage.
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| Tracker |
This is set either above or below the flexible rate given. This is not in relation to the lenders rates but instead to the rates given by the bank of England.
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