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What are the different types of mortgage interest rates?

FAQs

a) Variable rate –  your monthly repayments will vary as & when your lender’s standard variable rate (SVR) changes.
b) Fixed rate – your monthly repayments will be fixed for as long as the interest rate is fixed.
c) Discounted rate – your monthly repayments will vary as & when your lender’s standard variable rate (SVR) changes, but will remain lower than repayments on a variable rate mortgage.
d) Tracker – your monthly repayments will vary according to either the Bank of England base rate or London Inter-Bank Offered Rate (LIBOR) for set period of time, or can be for the lifetime of the mortgage.

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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
The actual interest rates available will depend upon your circumstances. Please ask for a personalised illustration.
All mortgage quotations and approvals are subject to change, credit checks and a property valuation.

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