Earlier this year, MoneyFacts awarded our 3-year variable discount 4.89% at 75% LTV an 'Outstanding' Product Rating.
Whilst MoneyFacts clearly thought this product is a good one, you're probably wondering if it could be a fit for your clients?
Here's why it could be:
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A variable discount mortgage is where you pay a discount on the lender's Standard Variable Rate (SVR), which is set in response to the Bank of England's Base Rate.
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This means the mortgage rate can increase or decrease if we change our SVR during the mortgage term, however, those on a discounted variable mortgage will always pay less than our SVR. If our SVR decreases during the mortgage term, so will their payments.
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Also, during the ERC period overpayments are permitted on discounted products of up to 20% of the original loan amount per year (vs 10% on fixed products.)
And another thing!
At 6.75%, our SVR is one of the lowest in the mortgage industry at the time of writing.
If you, or your clients believe interest rates may be on the way down, a variable discount could be worth a look (especially an 'Outstanding' one!). If you have any questions, we're ready and waiting to help.
Don't forget!
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Our convenient instant chat is available Monday-Friday, 9.00am to 5.00pm. (from 9.30am on a Wednesday)
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We don't credit score - each and every case is assessed on individual merit and circumstances.
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Our underwriting process is tailored - no one size fits all.
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We consider all types of income and a range of currencies.