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Today's Variable Remortgage Providers         Variable Rates - the monthly mortgage repayment amount is based upon your mortgage lenders 'standard variable rate' (SVR).   This SVR is calculated from the Bank of England's interest base rate which moves up and down as the base rate moves up and down. Typically the SVR is 2% to 3% above the base rate. Lenders adjust the rate, up and down, as the base rate changes � adjustments downwards reducing your monthly repayment and adjustments upwards making it more expensive. Advantages If there are no redemption penalties you are able to re-mortgage to an alternative provider to reduce your monthly mortgage payments slightly. If the Bank of England's Monetary Policy Committee reduces rates, it is likely that your mortgage lender will follow suit. Disadvantages Huge personal debt and house price inflationary pressure is forcing the MPC to increase current 37 year low interest rates over the long term;  if you have a variable rate your lender will probably match any increase form the Bank of England. It is more difficult budget for the long term, as interest rates vary. A reduction in the BoE base rate will not always guarantee your lender's reduces your standard variable rate at the same rate.   IFA - IFA�s are invaluable in working with a select band of mortgage companies and speeding through mortgage applications. They are best placed to advise on all mortgage products currently available in the marketplace. An IFA is constrained by legal obligations to investigate your financial needs in order to recommend financial products.   Obtaining balanced advice is always hard if you have no personal contacts in the Financial Service industry. The importance of obtaining the best overall mortgage deal is vital in calculating your overall profitability; a poor package may restrict your investment goal and eat into your final Return on Investment.  They will have access to potentially thousands of mortgages products, pension plans, insurance products and so on. They will present a number of options based on your written needs. Roughly 80% of all the UK�s buy to let mortgages are arranged via some form of broker or IFA. back to top