Understanding Contractor Mortgages

Buying a house and taking out a mortgage represent the largest financial decision – and commitment – that you will ever make in your life. That’s why before you even start to think about getting a mortgage you need to understand how mortgages work and what kinds of mortgage might be right for you. What […]

Discounted Rate Contractor Mortgages

A discounted rate mortgage takes the standard variable rate and then sweetens the deal for the borrower with a fixed reduction. As an example, if the standard variable rate was 3% and you sign up to a mortgage with a discount of .5% then you would be paying an interest rate of 2.5% every month. […]

Cash-back Contractor Mortgages

Another variation on the standard variable rate mortgage is the cash back mortgage. Cash back mortgages work along the same principles as discount mortgages but instead of having a discounted period wherein you pay back less interest for a pre-agreed period, you will receive a pre-agreed amount of cash back or a lump sum. The […]

Variable Rate Contractor Mortgages

Variable rate mortgages are mortgages in which the interest rate that a borrower is given is fluid and will vary according to either the lender’s SVR (standard variable rate) or the Bank of England’s base rate. In other words, the term ‘variable’, as opposed to ‘fixed’ refers to the fact that the interest rate on […]

Capped Rate Mortgages

Capped rate mortgages are often seen as offering the best of both worlds, sitting somewhere between standard variable rate mortgages and fixed rate mortgages. Capped rate mortgages will closely follow the standard rate just as variable rate mortgages do, but they come with the security of not going over a pre-agreed level of interest and […]

Understanding Contractor Mortgages

Buying a house and taking out a mortgage represent the largest financial decision – and commitment – that you will ever make in your life. That’s why before you even start to think about getting a mortgage you need to understand how mortgages work and what kinds of mortgage might be right for you. What […]