Remortgage

Variable rate

What is a variable rate mortgage and should i get one? Variable-rate mortgages, as the name suggests, have interest rates that are variable: they can move up or down and usually do so in line with the UK economy and the Bank of England’s base interest rate (currently 0.75%). There are three main types of

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Fixed rate

With fixed-rate mortgages, your monthly repayments are guaranteed to stay the same for a set period of time. This enables you to budget and plan your finances. What is a fixed-rate mortgage? A fixed-rate mortgage offers a fixed interest rate for a certain period, usually two, three, five or 10 years. The alternative to a

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In general, you should start looking for a new mortgage around three months before the end of your current mortgage’s promotional deal. For example, if you have a three-year fixed rate mortgage, you should start shopping around when you’re 33 months into the 36-month promotional period. When a lender offers you a mortgage, you usually

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Should I remortgage?

Some reasons you might want to remortgage Remortgaging is the process of getting a new mortgage on your existing property either with your current or a new lender. More often than not, the main reason to remortgage is to save yourself some money, but it’s not the only one. Why should I remortgage? Your current

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