0800 358 5068

Discounted deals are so-called because the rate is set at a discount to the lenders Standard Variable Rate (SVR). Discounts will usually provide the very lowest initial pay-rate, but the rate is variable so will rise along with any hike in interest rates announced by the Bank of England. For that reason they are not usually recommended for people on a tight budget or who are stretching to afford their property.

However, unlike fixed-rate mortgages, discounted rates have the capacity to fall if interest rates are cut. So, if you have enough leeway in your budget and feel confident that rates will stay low enough for you to afford the repayments, then a discount is worth considering.

For the best discounted mortgage deals, call one of our specialist advisers on 0800 358 5068.