Mortgage Rate Comparison ~ Mortgage Broker Help

 
Mortgage Rate Comparison Tables
 

MORTGAGE RATE COMPARISON

TOP 50 MORTGAGE COMPARISON OF LENDERS*  MONEYFACTS

Standard Variable Mortgage Rate (SVR)

The Standard Variable Mortgage Rate Comparison > Fluctuates with Lenders base rates

This is the mortgage lender's basic lending rate, which usually follows fluctuations in the Bank of England Base Rate or market conditions in general. Many borrowers move onto this rate when their initial special mortgage offer period has ended and never move again. It can be worthwhile to remortgage at this point check out our remortgage section to find out more.  
'Mortgage Rate Comparison' > no redemption charges. Interest rate variations may make it hard to plan ahead. The costs of your mortgage may rise rapidly if interest rates go up.The rate is usually higher than other mortgage offers.

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Tracker Mortgage Rate

Tracker Mortgage Rate Comparison > Faithfully tracks the Bank of England or Libor base rates

Tracker mortgages work similar to standard variable product. The rate follows a mortgage rate usually set by the Bank of England or Libor rate. 
 
'Mortgage Rate Comparison'  > When the Bank of England Base Rate or Libor falls so do your mortgage payments. The interest rate reflects movements in the marketplace. There can be early redemption costs during the initial period. If the Bank of England Base Rate or Libor rises, then your mortgage payments increase.

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Fixed Mortgage Rate

Fixed Mortgage Rate Comparison > Fixes interest rates for a set period of time

The rate is fixed for a given period normally say 2/3 or 5 years. There are several lenders now offering 10 years+. This means you'll know exactly what your repayments are going to be during the given period. 
'Mortgage Rate Comparison'  > You will know exactly what your mortgage will cost you monthly. Early redemption charges can still apply even after the fixed period has ended.  There is a risk that rates could fall, leaving you on an uncompetitive rate

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Discount Mortgage Rate

Discount Mortgage Rate Comparison > Discounts the Lenders variable rate for defined period

A discount rate is similar to the standard variable rate but there is usually a set discount for a set term. During the discount period there is as the name implies a discount. The discount rate cost is usually a redemption penalty if you transfer your mortgage during the discount term.  
'Mortgage Rate Comparison'  > The discount mortgage helps to reduce mortgage outgoings during the mortgage term, especially if rates drop. The redemption penalty may apply beyond the initial discount period, and can be very expensive. The discount rate moves to the lender's ordinary rate at the end of the discount period.  

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Cashback Mortgage Rate

Cashback Mortgage Rate Comparison > Lump sum at the outset of the deal

A cashback mortgage offers you a lump sum cashback at the start of your mortgage, which you can use for expenses you may have. 
'Mortgage Rate Comparison' > You get a lump sum to help you with expenses such as new furnishings or redecoration when needed. There can be early redemption costs for a longer period than most other types of mortgage 

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Capped Mortgage Rate

Capped Mortgage Rate Comparison > Guarantee that the mortgage will not rise above a set figure

Mortgage rates on the capped rate product will not rise above a certain agreed level.  
'Mortgage Rate Comparison' > You're protected from mortgage interest rises, but benefit from mortgage rate falls. The capped mortgage rate may be generally higher than a fixed rate for a similar term.

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Offset Mortgage Rate

Offset Mortgage Rate Comparison > Offsets your Mortgage against your savings

Mortgage rates on the offset are fully flexible by allowing you to offset the cost of your ,ortgage against your savings. ie; If your mortgage is £150,000 & you have savings of £25,000, you will only pay interest on £125,000. 
'Mortgage Rate Comparison' > If you are higher rate tax payer, you avoid paying interest on your savings. However, you will get no interest on your savings naturally & all you eggs are in one basket.