Discounted rates - Mortgage Information

Discounted rates

How it works	Your payments are variable, but they are set at less than the lender's standard variable rate for a set period of time. At the end of this period, you are usually charged the lender's standard variable rate.
Early repayment charge?	During the special deal period -Yes, with most loans For some time after the end of the special deal - Yes, with some loans.
Is it for you?	Yes, if money is tight when you first take out the mortgage, but are confident your income will increase and you can afford the increased payments when the discount period ends. No, if you won't be able to afford the mortgage payments when the discount period ends. No, if you wouldn't be able to afford the mortgage payments following a big rise in interest rates.

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