It doesn't always have to be FIXED

Great news! MoneyFacts have awarded our 3-year variable discount 4.89% at 75% LTV an 'Outstanding' Product Rating. 🎉

Whilst MoneyFacts clearly think the product is a good one, you're probably wondering if it could be a fit for your clients? 

Here's why it could be:

• 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.

• 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.

• 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.)

You can find the full product details here.

And another thing! 

Our SVR has not changed since September 2023. In fact, at 7.00%, it's one of the lowest in the mortgage industry at the time of writing.  You can track our SVR against the Bank of England's base rate for the last five years here.
 
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!

• Our convenient instant chat is available Monday-Friday, 9.00am to 5.00pm. (from 9.30am on a Wednesday)

• We don't credit score - each and every case is assessed on individual merit and circumstances.

• Our underwriting process is tailored - no one size fits all.

• We consider all types of income and a range of currencies.

Contact us here.