Pricing options

Pricing Options

When you apply for a mortgage we help you make an informed decision about which type of loan is most suitable for your circumstances.

We explain the options to choose from below:

Fixed Rate Mortgages

  • Monthly repayments stay the same each month giving you security and certainty.
  • Can be flexible to allow you to repay more quickly over time.
  • Two year fixed rates most popular in UK.
  • Generally more expensive than tracker options but are less risky and more predictable.

Tracker Mortgages

  • Mortgage repayment will vary according to changes in the Bank of England base rate.
  • Flexible and can be arranged without early repayment charges.
  • Generally cheaper than fixed rate mortgages but are less predictable.

Discounted Rates

  • Linked to lender’s standard variable rate (SVR) which moves up and down at the lenders discretion.
  • Not linked to changes in Bank of England base rate but changes in lenders variable rate.
  • Lenders will not always pass on any savings made but will often pass on increased rates.

Standard Variable Rate (SVR)

  • Default lender rate for when mortgage term expires.
  • Rates are rarely competitive and do not offer value for money compared with market rates.
  • The lender is not obligated to pass on cost savings if rate goes down.

Discuss your mortgage pricing options with one of our experienced team members today by giving us a call or arranging a callback.