3 Year Discount Mortgage

3 Year Discount Mortgage

3 Year Discount Mortgage - 3 year discount mortgage refers to a mortgage with a discount on the lenders’ standard variable rate (SVR) for 3 years. The rate on a 3 year discount mortgage may be set to a specified percentage of the lenders’ SVR. As an SVR is set by the lender, it does not necessarily follow the Bank of England base rate and may take into account wider market conditions. Usually a 3 year discount mortgage will move onto the lenders’ full SVR at the end of the 3 year discount period.

A 3 year discount mortgage can assist those who are first time buyers by demanding discounted monthly repayments. This allows some time to settle into a home, where there may be increased expenditure initially for renovation. Alternatively, borrowers seeking a 3 year discount mortgage may be starting a career as a professional and expect to be in an improved financial situation by the end of the three years.

Generally, lenders will make an additional charge if an overpayment is made before the end of the first 3 years of a 3 year discount mortgage. As a result, it is important to ensure that you obtain the right 3 year discount mortgage with the right lender.

We offer expert advice on best 3 year discount mortgage for your particular circumstances. Our personalised service is designed around your individual needs and finances. We search through 3 year discount mortgage deals from our comprehensive panel base and view each product holistically. This ensures we recommend the most suitable and affordable deal for you, including hidden costs and conditions.

We have built up great relationships with many lenders and have access to some 3 year discount mortgage deals that are not available on the open market. This may give you access to lower rates or incentives, such as a free valuation.

If you need any assistance why not speak to one of our Mortgage Advisers by calling 020 77 100 400 or Enquiry Online.

We can save you time, money and hassle on your 3 year discount mortgage. Contact us online or call us today to speak to one of our expert brokers.

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