If you are looking for a variable mortgage compare products through Deal Direct.
A variable mortgage has a rate that can change throughout the life of the loan. At the beginning of the loan you may be able to fix a discounted period with the lender, this then generally reverts to the lender's standard variable rate.
If you want a lower payment than a fixed rate mortgage can currently offer, a variable mortgage often has a competitive rate for a period at the beginning. If you are on a career path which is likely to increase your income as rates increase, then this type of mortgage may be suitable for you.
A variable mortgage can be unpredictable however, as we have seen many lenders increase their standard variable rates when the Bank of England base rate has remained low. Call Deal Direct for advice on which type of loan is most suitable for your financial situation and the best available rates in the market.
There are some competitive variable rate deals, for example a discounted variable rate at 3.30% for two years is available, linked to the Leeds Building Society’s standard variable rate. If you prefer a rate linked to the Bank of England base rate there are some life time tracker offers around 3% above the base rate giving a current rate of around 3.5%.
For advice on variable mortgage offers and a comparison with other types of product call Deal Direct. We are whole of market advisers and so can source the best available deals from a wide range of lenders.
Contact Deal Direct for a competitive mortgage offer.
