Lenders offer mortgages where a percentage has been cut from their rates for a fixed period of time. These are known as discount mortgages.
The rate of discount varies from mortgage to mortgage however as a general rule, the longer the length of the discount mortgage, the lower the discount e.g. a two year discounted mortgage may have a discount of 0.5% whereas a 6 month discounted mortgage may bear a 2% discount.
Discounted mortgages tend to have arrangement fees and are also subject to Early Redemption Charges if you decide to move to another arrangement within the discounted mortgage period
Discount mortgages have the advantage of keeping your rates lower however they are still variable and as such are subject to market forces which may mean that the rate pay increases. Obviously the reverse is true, if market rates reduce then the lender may well reduce the rate you pay.
Often discount mortgages offer the lowest rate on the market but are still variable, so a fixed rate may be more appropriate depending upon your circumstances and attitude to risk.
I take great pride in the service I provide and do everything I can to make sure your mortgage is arranged as swiftly, efficiently and professionally as possible.
In short, I offer a straightforward, personal and friendly mortgage advice service which you can trust.
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