Discounted Rate Remortgages are the same as standard variable rate remortgages, except they are set at an accepted discount for an introductory period. For instance, the discounted rate of a remortgage might be 2% lower than lender SVR for a fixed time. When lender SVR goes up or down, so too do the repayments (with their discount) on this type of remortgage.

However, beware that a discount on an interest rate at one bank might actually be more expensive than a SVR at another bank. Just because it is a discount, doesn’t mean it is the best deal available.