Liberty Partnership

Financial Adviser Stamford: What Is A Variable Rate Mortgage?

Financial adviser Stamford is a good way to start your internet search for a good independent financial adviser. However, don’t rely on the internet alone: some will be able to offer more than others, and so it is wise to speak to them directly to ask about their services. Can they, for example, assist with mortgages?

Mortgages are potentially complex, with a myriad of choice regarding the types available. But just because a certain type of mortgage is available is no guarantee that it is the right one for your own, individual circumstances. Some types will be better for your situation than others. Consulting a financial advisor Cambridge based, therefore, is an excellent way to get the best deal. One type of mortgage is the variable rate mortgage. This may also be called a discount rate mortgage, and they come in a few types. The tracker mortgage is a form of variable rate mortgage. Tracker mortgages track the base rate of the Bank of England. This means that whatever percentage the Bank of England base rates rises or falls by, your mortgage will do the same. You can usually organise with your Lincolnshire financial advisors to have this kind of mortgage for a set amount of time; two years is the average. The standard variable rate is another type of variable rate mortgage. Instead of following the Bank of England base rate, these mortgages follow the lending bank’s base rate; the two are not necessarily the same. Both of these options offer a degree of flexibility, and it is often easy to switch from this type to another, such as a fixed rate mortgage, should you wish to.

Speak to the best financial adviser Stamford wide, Liberty Partnership Ltd, about how we can help you obtain the best mortgage, invest your savings, organise your pension and much more. Our website lists our many services, and the expert team is available on 01778 342291 for questions.