What kind of mortgage?

Choosing the right Offshore Mortgage for you

Lenders now offer a wide range of mortgages to international buyers, so make sure you ask for the loan which is right for you.

Base Rate Tracker: As the name suggests, the interest rate tracks UK Base Rate. With some products, the interest rate will track UK Base for the life of the loan. This means you do not have to constantly shop around or incur costs remortgaging at the end of a special offer period. You also know exactly where you are with your interest rate costs at all times.

Standard Variable Rate: Generally the most flexible option. Loans typically allow early repayment of additional capital at any time without penalty.

Fixed Rate Mortgages: Available over 1, 2, 3 or 5 years. The interest rate is fixed, so repayments will not change during the term. Fixed rate mortgages are ideal for those who need to budget carefully or if you are worried about interest rates rising. Fixed rate loans usually have early repayment charges for early repayment of capital during the fixed rate period.

Discounted Rate or Low Start: Mortgages which offer a reduced interest rate for a set period, usually 2, 3 or 5 years. After that, the rate normally goes back to the lenders standard variable rate or standard variable buy to let rate. Good for those needing a short term reduction in costs, but you need to budget on having to remortgage at the end of the discounted period to keep a competitive interest rate.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Changes in the exchange rate may increase the sterling equivalent of your debt

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