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Discount Mortgages

 

Discount - A Discount Mortgage has an interest rate where a discount is applied to the lenders standard variable rate.

 

As the lenders standard variable rate moves up or down the discounted rate moves up or down by the same amount.

 

Discount rate mortgages are often offered for a set period of time, usually between 2 and 5 years.

 

If you redeem your mortgage during the discount period you would normally have to pay a redemption penalty to the lender.

 

What to do next

 

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Call us on 0800 824 7475

 

Your home may be repossessed if you do not keep up repayments on your mortgage