Stepped

A stepped rate mortgage can be fixed or variable and the rate generally increases in steps. Initially, the interest rate for the first few months or first year is at its lowest and then increases in pre steps. Typically the stepped mortgage scheme last up to two to three years.

These mortgage schemes are attractive to new home borrowers. For example, first time buyers seeking extra initial expenses for redecorating or trainees whom are expecting increase in salaries in the coming years i.e. trainee accountants. Our mortgage brokers will be able to source and advise you the right deals based on your circumstances.

If you require mortgage advice and you’re a first time buyer; please submit your details above and one of our mortgage brokers will call you. We Know Mortgages Ltd have access to thousands of mortgage products across the high street and building societies. We’ll guide you through the mortgage process from start to finish. We are based in Manchester city centre.