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There are lots of options, when it come to choosing a new mortgage.

Firstly, you'll have to decide on what type of rate you go for.  There are three main types of interest rate:

- Variable
- Fixed Rate
- Tracker Rate

A variable rate is the rate that most people are familiar with - there's a good chance that your current mortgage is based on a variable rate.  The variable rate can be adjusted by the lender from time to time, primarily when wholesale rates increase or decrease.  The benefit of the variable rate, is that it tends to be more flexible than a fixed rate - you can make extra repayments or lump sum payments for example.

A fixed rate is a rate which you choose for a specific amount of time (e.g. 1, 2 ,3, 5 or 10 years), and for that period, your rate will not increase, regardless of what happens with interest rates generally.  Usually, for fixed rates of longer than a year, you'll pay a higher rate than you would on the prevailing variable rate, as your rate is guaranteed not to rise for the period you take it out over.  The fixed rate is a good option if knowing that your repayments will remain the same in the short to medium term is a priority.

A tracker rate is similar to a variable rate - it can be adjusted from time to time by the lender.  The benefit of the tracker rate over the variable rate, is that the lender can only increase the rate, if the European Central Bank raises it's rates.  This means, that your loan should be pretty competitive for the term of the loan, as the banks 'margin' is fixed from the start & they write a price guarantee into the mortgage offer.  

Once you decide on the type of rate, it's important to look at some of the flexible options, which are available with some of the lenders.  Options include, payment holidays (where you take a month or two off each year, or from time to time you can take a break of three to six months), low cost top up loan facilities, indexation options etc.

There are some other new interesting mortgage options available, including cheque book mortgages, and current account mortgages, which our mortgage consultants will be happy to discuss with you.

When it comes to finding the right mortgage for you, we think it's important to find out a little about you & your plans.  

For example:
> If you receive a yearly bonus, it might suit you to keep payments low throughout the year, and pay in a lump sum, when the bonus is paid.

> If you are planning on having a child in the coming years, a mortgage break option, could be perfect for you.

> If you are planning on sending your kids to college in a few years, a cheap top up loan facility in the future to help pay their fees might be invaluable.  

Our Trained Staff will help you choose the right loan, for you!!