Discounted Mortgages
Discounted mortgages are similar to trackers, except the borrower will be offered a discount off the lender's variable rate. These will normally be two to five year deals and are an attractive option for borrowers who want to try and keep interest payments low. The mortgage will return to the full standard variable rate once the deal period has elapsed.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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