Mortgages

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Now could be the right time for you to buy

The Bank of England’s base rate has been cut from 4% to 3.75% – which means lower mortgage rates for anyone looking to buy a home. And with interest rates at their lowest since March 2023, now could be the right time for you to make a move.

All you need to do is speak with one of our sales advisors to find out more about our homes – or speak to New Homes Mortgage Helpline to learn more about the mortgage products available.

Find your home

Your guide to making sense of mortgage products

We know that mortgage products can be difficult to understand, which is why we've put a guide together to explain the subtle differences between the products available on the market.

This guide has been designed to give you an idea of the mortgage options available, and help you to decide which type of mortgage may be best for you. For further mortgage advice, New Homes Mortgage Helpline offer a no-obligation service and will be able to advise you on your affordability as well as the various mortgage options available.

The mortgage types available

Fixed rate

With a fixed-rate mortgage, the amount of interest you pay each month remains the same for a set period of time – commonly two to five years. Since mortgage repayments are often the largest outgoing for most households, many people enjoy the peace of mind that comes with a fixed-rate mortgage. This means you can budget accordingly, safe in the knowledge that your payments will remain the same each month for a fixed period of time.

Standard variable rate

A standard variable (SVR) mortgage is a type of mortgage interest rate that you are most likely to move onto after your introductory discount, tracker, or fixed-rate offer ends. The interest rate on this type of mortgage is set by your provider, and tends to be higher than most other types of mortgage, so it often works out more expensive. For this reason, you might want to consider re-mortgaging (switching your existing mortgage to a new deal), if your current offer is coming to an end.

Variable rate

With variable-rate mortgages, interest rates can change at any time, rising and falling according to the Bank of England base rate. This type of mortgage generally offers a lower interest rate than a fixed-rate product. You will benefit from a drop in the base rate, but could also end up paying more if the interest rates rise. There are two main types:

Tracker mortgage: a tracker mortgage is based on the Bank of England base rate, plus a percentage on top. It changes in line with the base rate, which means payments could go up or down. A tracker mortgage can be tied to the base rate for a set number of years, or for the life of the mortgage.
Discount mortgage: a discount mortgage is a type of variable rate mortgage that is tied to the lender’s standard variable rate, but with a discount for a set period of time (usually from two to five years). The amount you pay could change from month to month.

Capped rate

With a capped rate mortgage, you pay the lender’s standard variable rate, so your payments could go up, or down. However, a cap is put in place so that the rate you pay cannot rise above a certain point, even if the standard variable rate increases above this.

Mortgage calculator

Find out how much you could borrow

We've teamed up with one of the UK's leading new homes mortgage specialists, New Homes Mortgage Helpline to help find the right mortgage product for you.

Please note, by using the link below you consent to leaving the Ashberry website to go through to the New Homes Mortgage Helpline portal (The New Homes Group Limited) which offers customers unbiased, reliable and professional advice on mortgages available from a wide variety of lenders. Bellway may receive a commission when you complete on a mortgage arranged by the New Homes Mortgage Helpline through this portal.

Calculate your affordability

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Everything you need to know about mortgages

From the latest news to explainers

Now could be the right time for you to buy

Your guide to making sense of mortgage products

The mortgage types available

The mortgage types available

Mortgage calculator

Find out how much you could borrow

Find your perfect Ashberry home

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Receive updates on this Ashberry development

Other nearby developments

Calculate your affordability

About you

Receive updates on this Ashberry development

Other nearby developments

Everything you need to know about mortgages

From the latest news to explainers

Now could be the right time for you to buy

Your guide to making sense of mortgage products

The mortgage types available

The mortgage types available

Mortgage calculator

Find out how much you could borrow

Find your perfect Ashberry home