Fixed Rate

This is where the borrower is able to “lock in” to a fixed interest payment for a specified period, usually between one and five years. At the end of the period, the rate reverts back to the lenders variable rate. This scheme is popular with first-time buyers and others who want to be able to budget precisely. There is often an arangement fee, however, and there may be restrictions or an early repayment charge on changing to another lender. Other interest options are available. Please ask for more details.

Base-rate Tracker Mortgages

As the name suggests, these mortgages are linked to the base rate set by the Bank of England. The base rate is reviewed once a month and reflects the cost of borrowing money from the Bank of England. Base rate tracker mortgages give the borrower the certainty that their payments will rise and fall in line with base rate changes. Other interest options are available. Please ask for more details. 

Offset Mortgages

These mortgages usually benefit those borrowers who have an amount of money they wish to use to reduce the amount of interest they pay on their mortgages, whilst still having access to that money. Although you typically would not receive interest on your savings, you would only pay interest on the difference between your outstanding mortgage balance and the amount you have saved in your account. Other interest options are available. Please ask for more details.