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The Discounted mortgage is a type of mortgage where the lender offers a discount off their standard variable rate for a given period. At the end of the period your interest rate reverts to the lenders standard variable rate. Your repayments rise and fall in line with the variable rate which your discount rate is based on, but will always be discounted by the agreed rate during the discount period.
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Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.