Find the best value discounted remortgages with Fresh Start Finance - the loan and remortgage search specialists. A discounted remortgage is a loan that offers a discount interest rate based on the lender’s standard variable rate. With a whole of market choice, we can find the best deal for you. Our service is completely transparent and easy to understand - we won’t charge you any surprise fees or commissions. Even if you have a bad credit history (including CCJs, bankruptcy, arrears or defaults) we can help you arrange a great rate for a discounted remortgage.Discounted remortgages work in a similar way to tracker remortgages. Both are variable rates, meaning that interest can rise and fall during your loan term. However, unlike a tracker, a discounted remortgage doesn’t follow the Bank of England’s base rate. Instead, discounted remortgages offer a lower rate that the lender’s SVR (standard variable rate) for a set period of time - usually around 0.5 -1.5% less than the standard rate for a duration of 2-3 years.
It’s worth considering the following points before you take out a discounted remortgage:
Discounted remortgages can offer very good value for money, but carry the risk of increased interest and monthly payments
They are good deals if you are able to manage changes in your repayments
If interest rates fall, you will benefit
As with any variable loan or remortgage it is important to remember that payments can go up as well as down.
If you prefer to know exactly how much will come out of your account each month, a fixed rate remortgage may be a better choice.
Discounted loans only stay at the lower rate for a certain period (usually 2-3 years). After that the repayments will return to normal
If you want to switch to another type of remortgage before your term ends, you may have to may a penalty fee
To make an enquiry, please fill out our enquiry form today.
Apply for a discounted remortgage with Fresh Start Finance
You may want to view other types of available deals, including fixed rate remortgages, tracker remortgages, flexible remortgages, capped remortgages, offset remortgages, current account remortgages and cashback remortgages.
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