As the name suggests, a Discount Mortgage rate is a discounted rate for an agreed period.  These have proved to be cost effective for first time buyers, those moving home and those looking to remortgage their home.  They have also proved to be popular over the years for buy to let landlords.

It is always advisable to exercise caution when choosing a mortgage and although the sound of a discount mortgage rate sounds good. It is always advisable to go through the terms and conditions with a qualified independent mortgage adviser.

In general Buy to Let mortgages are not regulated by the Financial Services Authority