Standard Variable Rate Mortgage

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 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.


‘Your home may be repossessed if you do not keep up repayments on your mortgage’.

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We will tell you very quickly if your mortgage is likely to be successful.

Or the case of a remortgage, you are better staying with your existing lender.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Our fee guarantee: You will not pay any fees unless we can help you.

When you contact us for mortgage advice your dedicated adviser will stay with you from the beginning of your enquiry right through to the end.

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