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"Discount" Mortgage?
BettySpofkins
Posts: 77 Forumite
Hi chaps, just a quick one.
Browsing the "best buys" in the weekend papers, it seems that some of the best mortgage deals are "discount" mortgages, e.g. one building society offering 2.49% fixed for two years (at 75% LTV).
That seems great, but what's the catch? How does such a mortgage differ from any other?
Browsing the "best buys" in the weekend papers, it seems that some of the best mortgage deals are "discount" mortgages, e.g. one building society offering 2.49% fixed for two years (at 75% LTV).
That seems great, but what's the catch? How does such a mortgage differ from any other?
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Comments
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Thanks, that helps somewhat. So I guess it's essentially a variable rate mortgage, but with a temporarily low rate. Does anyone have experience with these? Are they as good as they look?0
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Only issue being you are at the peril of the Building Society's Board when they set rates. Historically they mirror the Bank of England but it 'could' differ0
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