Mortgage rates and types
There are lots of mortgages out there, but having a variety of mortgage rates can make it harder to find the one for you.
With the essential industry know how, our mortgage advisors have contacts in most of the UK’s major lenders and many specialist companies too. We’ll make sure you don’t waste your time on unsuitable schemes.
We don't charge for our advice. Instead, we simply charge a fee for arranging your mortgage. A typical fee is £399. We will never charge more than 1.5% of the value of the mortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.
So what are you looking for? Below, we’ve listed some of the most popular mortgage rates and choices, along with an introduction to each. Your mortgage advisor will be able to advise what are the best mortgage rates for you.
Standard variable rate (SVR)
This is the basic rate that lenders use. Your monthly repayments will rise or fall as your lender changes their interest rates. This usually happens when the Bank of England changes the national base rate, but lenders are free to change their rates at any time. In some cases a collar rate may apply, which means the rate will not fall below a specific level, regardless of base rate reductions.
Base rate tracker
The interest rate on your mortgage is directly linked to the Bank of England base rate. In some cases a collar rate may apply, which means the rate will not fall below a specific level, regardless of base rate reductions. For example, your lender might guarantee that your rate will always be 0.5% above the base rate.*
Fixed rate
The amount of interest you pay is fixed for a certain period of time (often 2, 3 or 5 years), then switches to the standard variable rate.*
Discounted rate
This variable rate mortgage allows you to enjoy a discount on the standard variable rate, usually for up to five years.*
Capped rate
A variable rate mortgage whose interest rate is guaranteed not to go above a certain level within a certain time, usually up to five years.*
*There are normally early repayment charges applied to these products should you want to repay your mortgage within the special rate period.
Flexible
This mortgage can be linked to other products like savings accounts, and allows you to vary the amount you pay each month or pay off large sums every now and then.
Buy to let
A mortgage designed for those who want to rent out their property rather than live in it themselves. Find out how we can help with buy to let. Not all buy to let mortgages are regulated by the Financial Services Authority.
Cashback
This mortgage provides a lump sum, mostly at the beginning or sometimes during the mortgage term. Cashback mortgages come with a number of conditions and it is worth checking the rate as it may not be as favourable as other mortgage options. You may have to repay some or all of the cashback if your mortgage is repaid early.
Talk to one of our mortgage advisors today about the best mortgage rates available.
Your mortgage repayment options.