top curve About us  Contact us  Our letter to you  |  Terms & Conditions  
Broker it free mortgages and remortgage offers
 
  Home
  end cap Mortgage Enquiry end cap  
end cap Remortgage Enquiry end cap  
end cap First Time Buyers end cap  
end cap Which Mortgage? end cap  
lines lines
 
Did you know that switching your mortgage could save you money - Go compare today and start saving
 

Available Mortgage Types

There are many different mortgage types available to you. Below are the main types of mortgages with the pro's, cons, descriptions and who the mortgage may suit. Rest assured, we will find a mortgage to suit you.

 

Fixed rate mortgage

What? The interest rate (and monthly payments) of your mortgage will remain the same for a specified period of time - often 2 years, but can be longer.
   
Who? This type of mortgage suits people who prefer to know exactly what they are paying each month. Often favoured by first time buyers.
   
Pros? Peace of mind. Makes financial planning easier.
   
Cons? If interest rates fall while your on a fixed rate mortgage, you won't benefit.
   
 

Tracker mortgage

What? This tracks the Bank of England rate for a set period of time, e.g. 2% above bank rate for 2 years. When the bank rate changes, your rate will change.
   
Who? Tends to suit people who are after a competitive deal, but have enough scope in their monthly budget to cope with any increase in monthly payments.
   
Pros? If the bank rate falls, so does your rate and your monthly payments decrease.
   
Cons? If the bank rate rises, your monthly payments will increase.
   
 

Discount mortgage

What? A discount is given off the mortgage lender's standard variable rate (SVR) for a set period of time.
   
Who? This shares many similarities to a tracker mortgage and suits people who are looking for a low initial rate, but can cope with any increase in monthly payments.
   
Pros? If the mortgage lender drops its SVR, your rate will also fall.
   
Cons? If your lender increases it's SVR, your payments will rise. Furthermore, lenders have discretion over their own SVR and don't have to follow the Bank of England rate.
   
 

Offset mortgage

What? An offset mortgage allows you to use your savings to reduce the mortgage balance that you pay interest on. For example, if your mortgage is £100,000 and you offset savings of £25,000 you only pay mortgage interest on £75,000. By saving on the interest, you can often choose to reduce the monthly repayment or cut the term of the mortgage.
   
Who? For borrowers with substantial savings.
   
Pros? They can help you save on interest and repay the loan sooner. They can also be tax efficient for higher-rate taxpayers.
   
Cons? Offset rates tend to be higher than standard deals so you need a decent level of savings to make them worthwhile.
   
 

Flexible mortgage

What? A mortgage which enables you to do things that basic mortgage deals don't, e.g. take payment holidays, make and borrow back overpayments etc. These deals take many shapes and forms and not all of them have all the flexible features.
   
Who? Suits anyone requiring flexibility from their mortgage lender. Can be useful if you have an irregular income.
   
Pros? You get a mortgage that can adapt to your financial habits.
   
Cons? There is often a price to pay for the flexibility, reflected in higher interest rates. Unless you definitely need a particular feature unavailable elsewhere, it may be cheaper to take a regular deal that has the flexible features you're after. Many mortgages now, for example, allow overpayments.
   
 
corner corner
 

What happens next?
Simply fill in the no obligation mortgage application form and sit back. We will contact you with your FREE mortgage quotation within 24 hours!
Alternatively call us on: 01792 850 017

See how much you could be saving today!

 
corner corner
 
Quote me now corner
 


Please click on the link below to find out how much you could save by transfering your mortgage.

corner
  Free quote >>>  
corner
 
lines lines
 
Lenders Include corner
 
 

Accord Mortgages

Barclays

Natwest

Nationwide

Birmingham Midshires

Halifax

Kensington

Santander

Scottish Widows

Metrol Bank

Paragon

Abbey

Coventry

The Mortgage Works

Leeds

Principality

Precise Mortgages

 
 
lines lines
Other Resources corner
 
 

Authorised and regulated by the Financial Conduct Authority

 

Licensed Credit Broker
No. 490377

Data Protection Act
Reg. No. Z6195751

FCA Number
300204

 
corner corner
 
lines lines

Website Belonging to Select Mortgages & loans . Other Sites - Offset Mortgage, Broker it Free, Flexible Mortgage Broker, Remortgage Offers

All loans subject to status. PLEASE THINK CAREFULLY BEFORE SECURING MORE DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT.

Authorised and regulated by the Financial Conduct Authority