Discount

The monthly repayments are variable and the interest rate will be set at a pre-determined discount from the Society’s underlying variable rate for an initial period eg 2 or 3 years. The monthly repayment will increase or decrease in line with the Society’s decision to change its underlying variable rate. At the end of the discounted period the interest rate will revert to the Society’s underlying variable rate.

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Discount Mortgages Guide

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