Discount Mortgage

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Discount Mortgage

A discount mortgage is where you pay a discounted interest rate for a set period of time. Essentially you pay a certain percentage less than the lenders Standard Variable rate (SVR), for e.g. if your mortgage lender’s SVR is 7% then you may only pay 6% for a predetermined period. The discount mortgage rate will revert back to 7% once the discount period is over. Some lenders offer bigger discounts if you put down a larger deposit towards your mortgage loan. When the discount period ends your monthly mortgage payments will certainly rise. The bigger the discount you got in the first place from your lender, the bigger the rise will be to your mortgage payments.

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mortgagerates123.co.uk aims to provide every client with cheap, affordable and best mortgage rates in the UK market, however the actual mortgage rate available will depend on client's financial circumstances and credit history. Although, mortgagerates123.co.uk has made every effort to ensure that the mortgage rates listed are correct, it bears no responsibility in case of an error.

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