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.

England

Wales

House Price

Min£50,000

£50,000

Max£600,000

Deposit

Min (5% of house price)£2,500

£2,500

Max (30% of house price)£15,000

Interest Rate

Min2.00%

3.50%

Max6.00%

Term

Min25 Years

30 Years

Max35 Years

This calculator is provided to give you basic guidance only. This information is computer-generated and relies on certain assumptions. It has only been designed to give a useful general indication of costs. Its important you always get a specific quote from the lender and double-check the price yourself before acting on the information. We cannot accept responsibility for any errorsand recommend that you obtain exact figures from a specific lender before committing to any mortgage.

Mortgage Calculation

Your deposit£2,5005%
Your mortgage£47,50095%
 
Monthly Payment£213.30 

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