What type of mortgages are available to me?

With a standard variable rate your payments will rise and fall with interest rates. 

Advantages:
If, after advice, you believe interest rates will go down, you will gain as your payments will drop. If you feel the reverse it may be worth fixing or capping your rate that you pay.
There is not normally any early repayment charges.
If you wanted to make overpayments there are rarely penalties. 

Disadvantages: 
If rates rose you would have no control over your payments and would see your payments rise. Take good advice over this before taking a variable rate. Ensure it is an educated view rather than adviser comment. You may expect the firm to have an Economics graduate to assist in that view.

Standard Variable Rate with Cash Back 

As per the standard variable rate mortgage but you will receive a cash back of a certain amount. If you try and pay off during a certain term there will normally be a penalty. Be wary of taking a cash if it locks you in. One way or another you will always pay.

For truly independent advice from the FT Adviser, UK Mortgage Broker of the Year for 2005, 2006 and 2007, complete our enquiry form or feel free to call us in confidence on 0800 0112825.