Mortgage Rate Beater

It may be possible to reduce your monthly mortgage payments by switching lenders.

We no longer display an online rate beater as we are concerned that these tools do not always give acurate results.

Mortgage lenders will offer you a mortgage rate based on your personal circumstances, possibly including the amount of deposit you have available and previous credit history. For example, at least one lender has recently started only making it's best mortgage rates available to customers able to place a 25% deposit.

Your credit history will also affect what mortgage rate you will pay with your chosen lender. For example, a history of missed payments or a lot recent credit applications might make the lender believe that you could be a credit risk. In this case you will almost certainly not be offered the best mortgage rates they are offering.

The 'typical' APRs they display on rate beater charts will be the best you can expect to pay. But if you aren't able to fulfil the minimum deposit conditions or your credit history has anything the lender considers could be a warning flag then you will probably not be getting the lowest rates available.

Of course, some lenders will be more cautious than others. Other lenders might be more willing to accept risk than others and certain products might be more suitable for your personal circumstances than other products.

Overall, this means that some of the products displayed on a ratebeater chart might be suitable for you, whilst others might actually cost more than they would appear to cost.

To find a suitable mortgage, or remortgage, speak to an independent mortgage advisor who can talk to you about your circumstances and find you the best mortgage on the market for you.

Complete the contact form above to be contacted for free by an advisor without any obligation to continue.

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