Variable Mortgages

Usually known as the standard variable rate. This rate normally fluctuates in line with the Bank of England interest rate.When considering a variable rate mortgage, you should seek products from lenders who offer a visible pricing structure. For example, some lenders calculate interest rates at a margin over the Bank of England minimum lending rate (otherwise known as bank base rate). Other lenders will use the London InterBank Offered Rate (otherwise known as LIBOR) as an alternative to the Bank of England Base Rate. Many lenders prefer not to offer mortgages on these bases as they are then tied to a fixed level of profitability.

However, from a borrowers perspective, a visible pricing structure is the only sure way of knowing that your lender is not going to increase your interest rate just because they have lost their appetite for a certain sector of lending. Be cautious and be sure that you know the basis of how your lender calculates their variable interest rates.

We at David Stock & Co. Ltd are Independent Financial Advisers who can, unlike appointed representatives, obtain quotations from the entire marketplace to ensure we secure the most competitive and appropriate mortgage, pension or tax/investment package available.

If you have any Enquiries about the services we offer or would like a quotation, simply call in our office or contact us via telephone or e-mail. A personal and professional service awaits you.

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