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Buying your Home
Mortgage Types:
Fixed rate mortgages: There are some attractive fixed rate mortgages.
Discounted mortgage: If you think that interest rates are likely
to fall you may prefer a discounted mortgage. Your mortgage rate moves
in line with interest rates, but always at a discount to the lender's
standard variable rate.
Capped-rate mortgage: These mortgages are appropriate if you
think that interest rates will rise. If they rise, you will never pay
more than the cap. You may also pay less if the standard variable rate
falls below the cap.
Cash-back deals: Some lenders offer cash-back deals under which
the lender pays a cash lump sum to the borrower. Often the lump sum
is a percentage of the amount borrowed.
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