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Interest-rate options (Products (Discount-rate mortgage (Features ('…

- - - - Variable
    - - Duration (Switchable)
  - - - SVR discount rate
    - - Limited
    - - 'Stepped discount' over future years
      - Interest rate 'floor' (set min rate)
      - Additional insurances
      - 10% Overpayments
  - - - Base-rate tracker
      - Libor tracker (3mth interbank rate)
    - - Limited or lifetime
    - - Min interest collar
      - Additional insurances
      - 10% Overpayments
  - - - Fixed
    - - Limited (1-5years)
    - - Overpayments
      - Additional insurances
    - - Fixed %
      - Future monthly remaining interest
  - - - Capped SVR
    - - Limited
    - - Overpayments
      - Possible Collar limits
  - - - 'Part and part' (repayment/interest only)
      - Different products (e.g. Tracker & SVR)
    - - Variable/Limited - Dependant on product
    - - Variable - Dependant on product
  - - - 'Daily rest' calculation
    - - Overpayments/underpayments
        
        Payback facility
        
        Underpay subject to credit reserve
      - Payment holidays
      - Portable without penalty
      - Offset facility
      - Drawdown facility
    - - Salary deposits
      - Bank account facilities
      - Reduced interest rates
  - - - Dependant on chosen mortgage product
    - - Savings offset against mortgage loan
        
        Interest charged on balance after savings deducted
        
        Payment calculated on original loan
    - - Dependant on chosen mortgage product
  - - - 3yr initial interest-only payments
        
        Swithing to repayment
  - - - Daily rest interest
      - No charge for mortgage indemnity guarantee
      - Intermediaries cannot charge fees
      - Variable-rate loans (inc. trackers)
        
        No arrangement fee
        
        Max 2% interest above Bank rate
        
        No ERC
      - Fixed/Capped-rate loans
        
        Max £150 arrangement fee
        
        Max 1% ERC on balance for each remaining year
        
        No ERC after fixed/capped period
    - - Cannot set min loan greater than 10k
      - Lenders lending criteria must apply
      - Portable
      - Early repayments allowed
    - - Advertising/Documentation clear and straightforward
      - Not required to purchase additional products
      - 6mths notice of CAT withdrawal
      - Arrears at normal interest rate