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Variable Mortgages

Discover the versatility of variable-rate mortgages. Variable-rate mortgages offer borrowers flexibility in adapting to changing market conditions, with interest rates that may fluctuate over time. Explore our comprehensive resources and expert guidance to navigate the dynamic landscape of variable-rate mortgages and find the perfect fit for your financial goals.

How to make Variable Rate Mortgages Work for You

Establish an Emergency Fund

It's crucial to set aside money in an emergency fund to prepare for potential increases in your mortgage payments. This fund acts as a financial buffer, providing peace of mind that you can handle unexpected rate hikes without jeopardising your financial stability.

Monitor Interest Rates

It's essential to stay informed about economic conditions and interest rate trends. Regularly follow financial news, subscribe to updates from reputable sources, and keep an eye on key economic indicators such as inflation, employment rates, and central bank policies.

Consider Overpayments

Making overpayments on your variable rate mortgage is strategic, reducing the principal balance faster and lowering total interest over the loan's life. By paying extra, you decrease your outstanding balance and create a financial cushion against rate increases.

Your home may be repossessed if you do not keep up repayments on your mortgage

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Benefits of Variable Rate Mortgages

Discover the financial benefits of variable rate mortgages and take control of your homeownership journey.

Lower Initial Interest Rates

Variable-rate mortgages often start with lower initial interest rates compared to fixed-rate mortgages.

Flexibility

Variable-rate mortgages provide borrowers with flexibility, as the interest rate and monthly payments can adjust over time in response to changes in market conditions.

Protection Against Rate Increases

While variable-rate mortgages are subject to interest rate fluctuations, many come with caps or limits on how much the interest rate can increase at each adjustment period or over the life of the loan.

Option to Switch to Fixed-Rate Mortgage

Borrowers with variable-rate mortgages have the option to switch to a fixed-rate mortgage at any time, providing stability and predictability in monthly payments if desired.

Potential Drawbacks

Explore the factors to consider when choosing a variable rate mortgage and make informed decisions about your financial future.

Interest Rate Uncertainty

Variable-rate mortgages are subject to interest rate fluctuations, which can result in uncertainty and volatility in monthly mortgage payments.

Risk of Higher Payments

If interest rates increase significantly over the life of the loan, borrowers with variable-rate mortgages may face higher monthly mortgage payments compared to those with fixed-rate mortgages.

Higher Long-Term Interest Costs

While variable-rate mortgages may offer lower initial interest rates compared to fixed-rate mortgages, borrowers may end up paying more in interest over the life of the loan if interest rates rise significantly.

Budgeting Challenges

Variable-rate mortgages can make budgeting more challenging, as borrowers may need to account for potential fluctuations in their monthly mortgage payments.

The tools to make mortgages simple!

Affordability Calculator

Quickly estimate how much you can borrow. Just enter your loan details to see your borrowing capacity.

Repayment Calculator

Calculate your loan repayments easily. Enter your loan details to see your monthly payment amount and schedule.

Overpayment Calculator

Find out how overpayments can reduce your loan term and interest. Enter your loan details to see the impact of extra payments.

Stamp Duty Calculator

Calculate your stamp duty quickly. Enter your property details to see the stamp duty amount you'll need to pay.

This information is a guide only and should not be relied on as a recommendation or advice that any particular mortgage is suitable for you.

All mortgages are subject to the applicant(s) meeting the eligibility criteria of the specific lender.

You should make an appointment to receive mortgage advice which will based on your needs and circumstances'.

Your home may be repossessed if you do not keep up repayments on your mortgage

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See What Our Customers Say

We take pride in our customer service and are committed to providing you with the best possible experience. Here's what some of our customers have to say about us.

David Sankey

David Sankey

1 day ago

Graham went above and beyond for me with assisting a tricky situation and helped me find the best mortgage deal possible, can’t recommend enough

Jason Oliver

Jason Oliver

2 days ago

Graham has great knowledge and professionalism. He walks through everything with you and explains each step of the way, it's very reassuring.

Daniel Russell

Daniel Russell

4 days ago

Having dealt with Graham for numerous years, I am really pleased to see that Karen is also now onboard, they are a fantastic team together and can’t do enough for you in support of making your remortgage application process as seamless as possible from start to finish! Graham is a wonderful man with invaluable experience within the industry and he always proudly displays his professionalism, knowledge, and support for you as an individual whilst tailoring his advice to your needs throughout the entire process. As always, thanks to Graham and Karen’s hard work and dedication, everything went as smoothly as I could have hoped. I can’t thank them enough for all their support and guidance throughout the process. I would recommend them without hesitation to anybody looking for a mortgage advisor who is knowledgeable, approachable, and genuinely cares about their clients. Thanks again! Dan

Joey Lees

Joey Lees

5 days ago

Fantastic service. Graham always meets us fully prepared with what will be the best deal for us and sorts it out super quickly and efficiently. Wouldn't go anywhere else

nicola Danson

nicola Danson

7 days ago

We have been using graham for 13 years. He has done multiple renewals for us. Always a pleasure dealing with him. Highly recommended

Jessica Berry

Jessica Berry

8 days ago

Huge thank you to Graham for all his help with our re-mortgage. The process was super quick and made very simple. He really put our minds at ease and made everything feel straightforward. Couldn’t recommend Graham enough, especially if you want a laugh during the process of sorting your mortgage.

A Cooper

A Cooper

8 days ago

Service above and beyond! I had 3 x buy to lets to remortgage / sell. So many variables. Graham guided me through with the most cost effective solutions! Out of office hours, rapid response every time. His expertise and being treated as a person, not just a number, made a tricky situation into a smooth, professional and cost effective experience. Thank you Mortgage42 highly recommended as always.

Darren Moore

Darren Moore

9 days ago

Graeme at mortgage 42 was very helpful in assisting with getting myself another mortgage deal I would highly recommend him to anyone else friends or family if you're after a good deal.

Laura Taylor

Laura Taylor

14 days ago

Graham was really helpful, friendly and knowledgable. He had done all his research on my specific situation before the initial meeting. So all the information I needed was sent to me super quickly!

Alex Jason

Alex Jason

18 days ago

Graham and Karen are an amazing team. We have been using them for several years and they always provide the most professional and attentive service. Cannot recommend highly enough!

Paul Turner

Paul Turner

20 days ago

Once again, Mortgage 42 have been superb. The entire process from original enquiry, through on boarding, to the final meeting to achieve a mortgage offer was very easy. I am not the most technically competent, but Karen helped by sending simple to follow “how to” guides. Graham is the most knowledgeable person in this field that I have ever met. He is just so “on it” and has once again sourced a deal that is well above my expectations. I cannot recommend highly enough. Thank you.

Lucy-Blue Paterson

Lucy-Blue Paterson

21 days ago

We came to Grahame following recommendation from a friend, & I can honestly say it was the best decision we made. From start to finish, Grahame (& Karen) were approachable, friendly, helpful & supported us on what we felt was going to be a complex & challenging remortgage. But they took all the worry away from us, from joint calls, to regular WhatsApp updates & progress, Grahame was always at the end of the phone to clarify & help us, without judgment. Thank you so much - ⭐⭐⭐⭐⭐

Rob Harrison

Rob Harrison

23 days ago

A professional, straight forward and friendly service with a personal touch. No jargon or confusing facts and figures, just plain English in order to find the best remortgage product to suit my needs. Its the third time over the last 7 years that Ive used this trusted service and wouldn't go anywhere else. Highly recommended

Andy Bleakley

Andy Bleakley

25 days ago

Fantastic experience using Graham and his team at Mortgage 42,extremely professional and makes whole process easy and straightforward. Would highly recommend for all your Mortgage needs

tazentertainment102

tazentertainment102

over 1 year ago

Graham and His team are absolutely fantastic. From the minute we inquired about the mortgage to completion he was always on hand for help and advice. The mortgage I was originally on was a nightmare, but Graham managed to find a much better deal not only saving me money but more importantly relieving me of stress. I cannot recommend enough

Glenn Brookes

Glenn Brookes

26 days ago

Very helpful researching all options

Amanda Marlow

Amanda Marlow

26 days ago

I can honestly say the service and the professionalism is second to none. I will be recommending karen and Graham to all my friends. One again thank you for everything

E J

E J

27 days ago

Mortgage42 came recommended from a friend. They have been unbelievably friendly and helpful. As first time buyers we had a lot of questions and didn’t really know what we were doing but they helped us through every step of the process making it as easy and stress free as possible. We got our offer accepted whilst they were on holiday but still helped us and did all of the work we needed whilst they were away. Working late at night, early in the morning and always there to help with any queries or anything we could need throughout the process. I couldn’t recommend Mortgage42 enough, thank you for all your help.

Jan Taylor

Jan Taylor

about 1 year ago

If you’re looking for the best mortgage advice, look no further than Mortgage 42, Graham and Karen are so genuine, helpful and supportive. Their expertise extends beyond initial consultation. Mortgage 42 provides an extensive range of financial advice tailored to your specific circumstances, ensuring comprehensive support throughout your mortgage journey. Both Graham and Karen are consistently available to address any inquiries you may have, making the entire process seamless and stress free. Rely on their professionalism and dedication for a mortgage experience that is truly exceptional.

Shelley Lambourne

Shelley Lambourne

27 days ago

Graham is super knowledgeable. Explains everything so it's understandable. Incredibly helpful

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