Types of Mortgage - The United Kingdom has several different types of mortgage programs available for borrowers. Basic information regarding these loan programs include:
Standard Variable Rate is the standard rate of interest used by lenders. It is connected to the base rate of the Bank of England, so at whatever point the base rate goes up, so do the home loan rates and regularly scheduled installments. Notwithstanding, these home loans aren't straightforwardly set at the base rate, yet they are generally set at around 1-2 % higher. This reality makes this kind of home loan costly, so very few willfully pick this sort of movable home loan, yet it is the rate borrowers are changed to once their underlying offer period lapses.
