Best Buys

Mortgage types
Fixed	A Fixed Rate mortgage is one where for a period of time the interest rate is set and will not be affected by changes in interest rates. At the end of the period the interest rate will become the Variable Rate applicable at that time (see Variable Rate). Usually the rate is fixed between 2 and 5 years, although, sometimes longer or shorter periods are available.
Variable	A Variable Rate mortgage is one that changes when the lender announces interest Rate changes. So unlike a Fixed Rate, if the mortgage rate goes up then you will be paying more each month. Equally if it goes down then you pay less.
Tracker and LIBOR	These mortgages are a variation of a Variable Rate Mortgage. They guarantee to be a certain percentage in excess of the London Interbank Ordinary Rate (which is the interest rate that the Bank of England lends to commercial banks) or the Bank of England Base Rate in the case of most Tracker mortgages. So as the LIBOR or Bank of England Base Rate change the LIBOR or Tracker Mortgage Rate does by the same amount. If the Bank of England Base Rate were 5% and the Tracker Mortgage guaranteed to be 2% greater, then you would be paying 7%. If the Base Rate were then to go up 1% to 6% you would be paying 8% (i.e new Base Rate (6%) plus the 2% guarantee).
Capped	A Capped Rate mortgage puts a ceiling on the rate for a period of time. This means that the payments cannot go above the rate set during that time. It can of course change if the rates go down.
Discount	A Discounted Rate gives you a guarantee that for a period of time your interest rate will remain at a fixed percentage below the Variable Rate. Therefore, if the current interest rate is 7% and your rate is discounted by 2% (i.e 5%) if the interest rate were to be increased by 1% then your rate would rise to 6%.
Collared	Some Capped rate mortgages have a 'collar'. This means that the Lender sets an interest rate below which, the mortgage cannot fall. These may offer a better Capped rate but if the interest rate falls below the 'collar' rate then you do not benefit.

Glossary of terms
Do I Qualify?	Do I Qualify?	When you click the button next to the product you are interested in you will be able to provide the information and send it to us. We will then research it for you, using our specialist mortgage sourcing systems and then come back to discuss our findings.
Lenders Fees	Lenders Fees	The lenders fees are the total fees charged by the lender for the mortgage. They include the total set up cost for the mortgage. Lenders have various terms for these, typically they are called Admin Fees, Arrangement Fees, Booking Fees, Completion Fees and so on. They all represent the cost they charge to you to set up your mortgage. The Lenders Fees also includes the Lenders Valuation fee. This fee is charged to pay for the Lender to have a valuation carried out of the property you are buying.
Valuation Fees	Valuation Fees	This fee is charged to pay for the Lender to have a valuation carried out of the property you are buying.
APR	Annual Percentage Rate	APR is the annual cost of a loan to a borrower. Like an interest rate, the APR is expressed as a percentage of the loan amount. Unlike an interest rate, however, it includes other charges or fees to reflect the total cost of the loan. On the Best Buys tables it shows the overall cost for comparison, and is based on an example mortgage of £120,000 being paid on a 'Capital & interest' repayment basis over a 25 year period)
LTV	Loan to Value	The loan to value is the amount being borrowed expressed as a percentage of the value of the property. For instance if the property is valued at £100,000 and the mortgage on it is £75,000 the Loan to Value (LTV) be 75%. The LTV shown in the tables is the maximum Loan to Value for that product
BBR	Bank Base Rate	The Bank Base Rate (BBR) is the base rate set by the Bank of England for lending to banks and other lending institutions. If a product is advertised at BBR + 1.5% and the current BBR is 4%, the product would be charged at 5.5%, if the BBR increased to 4.5% the products interest rate would increase accordingly (to 6.0%)
SVR	Standard Variable Rate	This is the rate that individual lenders set for lending to customers. This is set at the lenders own discretion and can be changed whenever they wish to do so. They may also use this rate to set rates for different mortgages in their product range in the same way as the Bank of England Base Rate is used. For Instance if a product is advertised at SVR + 1.5% and the lenders SVR is 5%, the product would be charged at 6.5%, if the lenders SVR increased to 6% the products interest rate would increase accordingly (to 7.5%)
Initial term	Initial term	Lenders offer some products with an initial period which typically will be 2,3,5 and up to 10 years and more. At the end of the initial period the rate will go to whatever the lenders current reversionary rate is
Reverts To	Products reversionary rate	The rate at which a product will be charged after the initial term ends (not applicable to lifetime products) This is usually set by the lender and is referred to as their Standard Variable Rate (SVR) or can track the Bank of England Base rate or London Interbank Offered Rate (LIBOR)
ERC	Early Repayment Charge	Lenders may charge an Early Repayment Charge (ERC) if a customer redeems (pays off) their mortgage within a time period specified by the lender. This is displayed on Best Buys as a percentage of the loan by year eg 3/2/1 is telling us that if the mortgage is redeemed in the first year of taking the mortgage, the cost for redeeming it would be 3% of the loan amount, 2% in the second year and 1% in the third year

Glossary

Mortgage Best Buys

Please have a look at some of the competitive rates that may be available to you from the current mortgage market. Simply click below on whichever table you wish to see (i.e. Home Mover, First Time Buyer, Remortgage, Buy to Let). Then click 'Do I Qualify?' so that it can be checked out for you.
Should you wish to see how much the mortgage would cost you per month simply click on 'Calculate'

Home Mover

First Time Buyer

Remortgage

Buy to Let

Home Mover


How much would this cost per month?	Initial rate	25 year APR	Initial term	Mortgage Type	Lender fees	Lender fee	Reverts to	LTV	Do I Qualify?
Calculate	1.24%	4.8%	2 years	Discount	£0.00	£	5.44%	60%	Do I Qualify?
Calculate	1.47%	3.9%	Until 30 Sep 2020	Fixed	£995.00	£995	4.24%	60%	Do I Qualify?
Calculate	1.34%	4.8%	2 years	Discount	£0.00	£	5.44%	75%	Do I Qualify?
Calculate	1.53%	3.9%	Until 30 Sep 2020	Fixed	£995.00	£995	4.24%	75%	Do I Qualify?
Calculate	1.69%	3.9%	Until 30 Sep 2020	Fixed	£995.00	£995	4.24%	85%	Do I Qualify?
Calculate	1.79%	5.0%	5 years	Discount	£1,244.00	£999	5.89%	85%	Do I Qualify?
Calculate	1.70%	4.9%	2 years	Discount	£0.00	£	5.44%	90%	Do I Qualify?
Calculate	2.49%	5.0%	2 years	Discount	£0.00	£	5.44%	95%	Do I Qualify?
HBS Best Buys supplied by Home Buyer Systems Ltd
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. If you would like us to contact you & produce a tailored result list based on your requirements, or have any queries please click here. The APR (The overall cost for comparison) shown in the tables assumes a mortgage of £120,000 being paid on a 'Capital & interest' repayment basis over a 25 year period The information provided here may be insufficient for you to choose a mortgage. We do have access to other arrangements that are not displayed. This information should not be considered advice or recommendation. Although great care is taken in producing this information Youngstone Financial Services and Home Buyers Systems Ltd do not assume liability for errors or omissions. Please note Lenders can withdraw these products at any time. In general, Buy to Let mortgages are not regulated by the Financial Conduct Authority.