![]() However, being on an SVR does offer more flexibility than other mortgage deals, given that you're not tied into the rate. You will automatically end up on this rate at the end of any other type of deal, so it’s often best to switch to a new deal as soon as your existing one ends. This is the mortgage lender’s default rate and is usually higher than any of their other deals. The introductory period of variable rate deals can be cheaper than a fixed-rate deal initially, but become more expensive if rates rise (or cheaper if rates fall). There are three different types of variable-rate mortgages:Īll variable interest rates are subject to change at any time. However, you won't benefit if interest rates decrease whilst you're on a fixed-rate deal. Knowing that your rate won’t increase within a specific time frame makes budgeting for your monthly repayments much easier. There are various deal lengths available and you fix the rate for that amount of time, usually two, five or 10 years. With fixed-rate mortgages your interest rate won't change for a set period of time. What are the different types of mortgage rate?Īll mortgages have either fixed-rate or variable-rate interest. Repayment mortgage of £168,000.00 over 25 years, representitive APRC 6.3%. Other fees may apply.Ħ0% LTV 5 Year Fixed - Santander UK Plc - 4.39% Repayment mortgage of £196,000.00 over 25 years, representitive APRC 6.5%. Other fees may apply.ħ0% LTV 5 Year Fixed - Santander UK Plc - 4.49% Repayment mortgage of £224,000.00 over 25 years, representitive APRC 6.7%. Other fees may apply.Ĩ0% LTV 5 Year Fixed - Santander UK Plc - 4.62% Early repayment charges apply until 5 years. Repayment mortgage of £252,000.00 over 25 years, representitive APRC 6.9%. Other fees may apply.ĩ0% LTV 5 Year Fixed - Nationwide BS - 4.84% Repayment mortgage of £168,000.00 over 25 years, representitive APRC 7.3%. Other fees may apply.Ħ0% LTV 2 Year Fixed - Santander UK Plc - 4.74% ![]() ![]() Repayment mortgage of £196,000.00 over 25 years, representitive APRC 6.7%. Other fees may apply.ħ0% LTV 2 Year Fixed - Hanley Economic BS - 4.85% Early repayment charges apply until 2 years. Repayment mortgage of £224,000.00 over 25 years, representitive APRC 7.4%. Other fees may apply.Ĩ0% LTV 2 Year Fixed - Monmouthshire BS - 4.9% Repayment mortgage of £252,000.00 over 25 years, representitive APRC 7.4%. 90% LTV 2 Year Fixed - Monmouthshire BS - 4.9%
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