What is a fixed rate mortgage UK
24th February 2023
A fixed rate mortgage basically means that your interest rate and payments won’t change for the initial product period of your mortgage.
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A fixed rate mortgage basically means that your interest rate and payments won’t change for the initial product period of your mortgage.
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A residential mortgage in the UK is a loan that is used to purchase a property for use as a primary residence. The lender, typically a bank or building society, uses the property as collateral for the loan. The borrower makes monthly payments to the lender until the loan is fully repaid, which is typically over a period of 25-30 years.
Right to Acquire is a scheme available if you are a housing association tenant in England. The scheme gives tenants the right to purchase their home at a discounted price. To be eligible for the scheme, tenants must have had a public sector landlord for at least three years.
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The benchmark rate stands at 3% and is widely forecast to go up to 3.5% following the latest meeting of the Monetary Policy Committee.
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Equity release is a way to get cash from the value of your home. It allows you to unlock some of the equity (money) tied up in your property
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A mortgage advisor acts between yourself (the client) and the mortgage lender. Their role is to help identify your requirements, your current situation and find a mortgage product that is suitable.
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Did you know we could secure a remortgage/product transfer 6 months before your existing fixed rate ends Table of Contents Why Mortgage Advice is
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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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Clever Mortgages is a trading name of B B Mortgages Ltd. B B Mortgages Limited is a limited company registered in England and Wales with registered number 08057085 Registered Office: 20 Market Place, Newark, England, NG24 1EA. B B Mortgages Ltd is authorised and regulated by the Financial Conduct Authority with registered number 795789.
Your initial consultation and any quotations are free and you are under no obligation to proceed with any options that may be available to you. If you choose to go ahead with a mortgage or secured loan, a fee will become chargeable. Please note commercial mortgages and some buy to let mortgages are not FCA regulated products.
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