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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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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.

Severnia007

Severnia007

4 days ago

We've worked with Graham for many years across a range of mortgage and financial products, and every experience has been a success. Talking about your finances isn’t always easy, but Graham makes the process feel comfortable and straightforward. He clearly explains each step, helps you navigate the paperwork, and ensures you have everything you need. The digital tools and online systems he uses make it easy to share documents and stay in touch, with most of the process handled from home — a huge time-saver. Graham is quick to respond, and always takes the time to give clear, thoughtful answers. Mortgage42 might be a new company, but Graham brings the same professionalism, warmth, and care he's shown us for over a decade. Thank you to Graham and the whole team — highly recommended!

Mattlou H

Mattlou H

4 days ago

Brilliant Company Graham found us a mortgage that suited our needs perfectly. His knowledge of the industry is second to none and he kept us In the loop throughout whole process and was available at all times if we had any queries. Thoroughly Recomend this Company

Claudia Jackson

Claudia Jackson

5 days ago

I could not recommend Mortgage42 enough. There is no mortgage adviser I would rather be with. Friendly, happy, kind, loyal, understanding, experienced, knowledgable, organised, helpful, the list is endless. I have been with Graham for over 6 years and every experience he has made so simple and easy and hassle free which is all you want when talking all things mortgages. He will guarantee, to get you the best deal!

Angela Anderson

Angela Anderson

5 days ago

I honestly can’t recommend Graham at Mortgage42 highly enough! From start to finish, he always goes above and beyond in every way — making what could have been a stressful experience feel smooth and completely manageable. Their patience, warmth, and genuine care made us feel like more than just clients — he always treats us like family. Every question we had (and we had a lot!) was answered clearly and kindly. Making sure he found us the best deal, and offered advice where needed. If you’re looking for someone who genuinely cares and will go the extra mile for you, this is the person you want by your side. Thank you so much for everything!

Owen Brunton

Owen Brunton

7 days ago

Excellent service, fast responding and very helpful.

Pauline Muir

Pauline Muir

10 days ago

Graham is the kind of person that restores your faith in people. From the first contact he was friendly and professional and responsive to messages. I was quickly able to arrange an appointment with him Online and I was able to upload all my information and documentation prior to the appointment. Graham took the time to really listen to my situation and was easy to talk to and non judgemental. My financial situation in the past was difficult as a result of the end of my marriage and I had very little hope that I would be able to get a mortgage. Graham left me feeling confident that there would be a mortgage option that was suitable for me and despite my long standing worries he had come highly recommended and I took him at his word. The speed with which my consultation was then followed up with a mortgage offer in principle was astonishing (within the hour). I am genuinely blown away at the service Graham has provided so far, in addition Graham seemed equally as happy for me as I was and was just lovely, kind, positive and really helpful. I cannot recommend him highly enough.

Beverley French

Beverley French

14 days ago

Really good experience - friendly, knowledgeable, understood my preferences, found me a suitable product and made sure I understood it. Very smooth and rapid service. Amazingly prompt communication. Can't recommend highly enough.

John Flaye

John Flaye

14 days ago

Outstanding service & advice, given with a deep knowledge of the the mortgage and insurance markets. Clarity of information allowing full understanding. I cannot recommend Graham enough, he is head and shoulders above other mortgage companies and advisors.

Mark Swindlehurst

Mark Swindlehurst

16 days ago

Graham has an enormous amount of experience and knowledge, he will put you at ease and no matter you situation he can help, he won’t judge but will make you laugh whilst being totally professional. I haven’t gone anywhere else since meeting him. Most of all, he is very reasonable.

Daniel Bradley

Daniel Bradley

16 days ago

Fully recommend Graham Wilson @ Mortgage 42. Graham always goes the extra mile to find exactly the right mortgage and life protection you may require. Very thorough and any questions are answered promptly and without fail. We have used Graham for over 8 years now and will continue to. You've tried the rest, now use the best! Best in the game! 💪 Dan and family.

Louis Wakefield

Louis Wakefield

17 days ago

I wouldn’t trust on one else on sorting my mortgage. Graham is fantastic. He spends time going through everything, even if you ask the same questions multiple times. His knowledge and expertise is second to none. Couldn’t ask for anything more from him or the company.

Lindsey Baron

Lindsey Baron

17 days ago

I’ve sought advice from Graham on numerous occasions and have always received an absolutely fantastic service from start to finish. He takes all of the stress out of the process and goes above and beyond in everything he does. I wouldn’t hesitate in recommending him to anyone else!

Chris Ashton

Chris Ashton

17 days ago

Fantastic team of people nothing is any bother So easy to use any problems just chat to them they are so helpfull so friendly best place to get great help and advice Best advice I have ever had They look at all options nothing is any problem You will get honest first class help every time 👍👍

Jenna

Jenna

17 days ago

Fantastic service. Highly professional and so friendly. Graham really knows his stuff, helped us secure our dream home and mortgage renewals over the years. We will never go anywhere else!

Graeme Murray

Graeme Murray

17 days ago

I've used Graham Wilson for many years for mortgages and insurance. He has saved me a fortune over the years! Great bloke and always exceptional service

peter walmsley

peter walmsley

17 days ago

Graham did a remortgage for a rental property. Everything was explained clearly. I’m very happy with the outcome and will definitely be using Mortgage 42 again.

Sean Peters

Sean Peters

17 days ago

Graham’s knowledge of the mortgage market is second to none. Combined with his attention to detail and efficiency makes for a winning combination. I can’t recommend Graham and Mortgage 42 highly enough.

Manjit Jandu

Manjit Jandu

19 days ago

Mortgage42 have provided with us with an excellent service. Graham and his team are very personable, have a really good work ethic and their communication is second to none. We felt fully supported throughout the process of our application. Graham's knowledge of the system makes it much easier for the client to navigate the systems. I would 100% recommend Mortgage42 to my friends and family.

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