Clear Cut Mortgages - Interest Rate Schemes

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Schemes

Interest Rate Schemes

Variable Rate - The monthly payment fluctuates in line with the lenders mortgage rate and can be arbitrarily adjusted by the lender

Base Rate Tracker - This is a version of a variable rate but the difference is the rate will only change in line with changes in the Bank of England base rate.

Fixed Rate - The monthly payment is set at the start of the mortgage and cannot change for the term of the fixed rate offer e.g. 2 or 3 years.

Discounted Rate - The lender offers a discount against their own variable rate for a set term e.g. 2 or 3 years.

Capped Rate - The interest rate cannot go above a pre set figure for a certain period of time

Collared Rate - The interest rate cannot fall below a pre set figure for a certain period of time.

What type of Mortgage client are you?

Authorised and Regulated by the Financial Services Authority. Your home may be repossessed if you do not keep up repayments on your mortgage. Your existing lender may require an early repayment charge if you remortgage. Think carefully before securing other debts against your home. When consolidating debts the new mortgage may have a longer repayment term and therefore increase the total amount payable.

We charge a fee of £125 on application as an administration fee which is non refundable.

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