Cheap Mortgage Deals
Flexible Mortgages - Cheap Mortgage Deals
This is the exact opposite of a fixed rate mortgage. The 'flexible' relates to the interest rate. The interest rate is set by the Bank of England but each lender can alter their rates to be above or below the base rate. These mortgages are widely available from high street lenders as well as building societies.
If you opt for a flexible interest rate home loan you could see your monthly payments increase or, as has been the case in recent years, decrease when the Bank of England decides to lower its rate.
The alternative to this mortgage product is the fixed rate mortgage whereby the interest amount is set for the life of the mortgage.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
Cheap Mortgage Deals is a trading name of Grovelawn Limited, which is authorised and regulated by the Financial Services Authority.
Grovelawn Limited is Registered in England & Wales number 5030300; Registered Address: 98 Station Road, Sidcup, Kent, DA15 7BY
Entered on the Financial Services Authority's Register - Register Number: 314204 - Consumer Credit Licence Number: 573287
The Financial Services Authority (FSA) do not regulate some types of buy to let mortgage, commercial mortgage, overseas mortgage, tax advice and credit or loans not secured on property.
The overall cost for mortgages for comparison is % APR.