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Discount Mortgages
This offers you an interest rate set at an amount (discounted) below the lender's standard variable rate. Normal terms are between one and five years.
Plus Points: Opportunity to pay less than the standard rates while payments fall with interest rates.
Points to Watch: The longer the period of discount the smaller the discount. These mortgages sometimes have early cancellation penalties.
2 standard repayment methods for Fixed Rate Mortgages:
- Straight Repayment
- Interest Only
Protecting you and your family's home in an financial crisis is a key factor to consider when setting up a mortgage.
Top Ten Discounted Mortgages
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