Choosing the right Mortgage can be daunting, with so many options to choose from it can get very confusing. At Applebuy Mortgages we will sit down and discuss your individual needs with you at length, we will take our time to explain all your options and find the right deal for you. No question is too silly so ask away.

​A brief explanation of the main types of Mortgages:

Fixed rate - A fixed rate Mortgage means the interest rate applied to the Mortgage is fixed, normally for 2, 3, 5 or even 10 years. This means your payments will not change during the chosen period. Fixed rates mean you can budget easily every month and you know exactly what you will pay for the chosen period of time.

Tracker - A Tracker Mortgage means the interest rate applied to the Mortgage tracks the Bank of England base rate with a set percentage added on top. For example a Tracker rate may be 1.5% above the Bank of England, as the current Bank of England rate is currently 0.75% (as of 10/12/19) the total rate charged would be 2.25%. As the Bank of England rate is variable a Tracker rate Mortgage is therefore variable which means your payments can go up or down.

Discount - Very similar to Tracker Mortgages but instead of tracking the Bank of England, a lender gives a set discount from their own standard variable rate (SVR). For example, if a lenders SVR is 4.25%, they may then give a 1% discount for 2 years, giving a rate of 3.25%. Again as the lenders SVR is variable it means your payments can go up or down.