Pruning your payments with an easy to arrange discount mortgage

Buying a house is an expensive business. Whether you're a first time buyer or moving up the property ladder, the first few years in a new home often have expenses that can't be avoided, like redecorating or furnishing. Trimming back your outgoings at this time can be essential. And a great way to do this is with our discount mortgages. They're designed to lower your payments in the first few years to help you avoid financial cutbacks in other areas.

These rates offer a discount on our Standard Variable Rate for your chosen period at the start of your mortgage. So if you want to pay less than our Standard Variable Rate and want to make the most of any drop in interest rates then you could consider a discount rate mortgage. However, do remember that the discounted rate follows any movement in our Standard Variable Rate, so the level of your payments can go up as well as down.

At Bristol & West Mortgages we offer three different kinds of discount rate mortgage.

  • Standard

    A standard mortgage - i.e. a residential mortgage, for which you need to be able to supply proof of your income (or in the case of being self employed, two years' audited accounts).

  • Self Certification

    Specialist mortgages for buyers with irregular incomes; instances where your income is primarily from bonuses, commission or investments.

  • First Start

    This is our specialist mortgage to help you get onto the property ladder. It helps overcome the common problem many first time buyers face - you've found the place you like, you could afford the repayments, but you don't earn enough to get the mortgage you need. Your parents loan you their 'borrowing power' not their money, but they are jointly responsible for the mortgage

Please note that any fixed or discount mortgage promotional rate we agree with you will revert to our Standard Variable Rate (SVR) after the agreed period. The SVR is our basic rate, and it can go up or down, usually following changes to the Bank of England's Base Rate.