BGN Entrepreneur

Good value mortgages will allow the borrowers to leave at a minimal cost once the initial deal period has ended.
After the initial deal period end, the borrowers will pay back their mortgage at the lender’s standard variable rate then, which is generally around 2% above the bank rate.
The borrowers can then try to secure another good value deal.
The most popular, and generally best value-for-money, deals are the ones that offer an initial special rate for a set period, which is usually between two and five years. The type of the mortgage rate can be either fixed or variable.
According to the Council of Mortgage lenders, 70% new mortgages in the UK is taken out at fixed rate, while variable rate discounted or tracker deals make up most of the rest of new homeloans.

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