The discounted rate mortgage is similar to the standard variable rate but you will have a discount for a period of time. At the end of the period you will either move to the standard variable rate applicable or seek another mortgage product.
During that time however you may not be allowed to make overpayments or pay off your mortgage, if you do there may be a penalty fee.
For truly unbiased independent financial advice from an FAC adviser, feel free to call us in confidence on 01726 814935
We charge a fee for mortgage advice. Our typical fee is £500
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER LOAN SECURED ON IT.