Are you one of the many homeowners who will face higher mortgage payments as a result of banks increasing their standard variable rate of interest (SVR) following the Bank of England’s decision to raise the base rate last month?
If you are a customer of one of Britain’s biggest mortgage lenders such as Barclays, Halifax, HSBC, Lloyds, Nationwide and NatWest and you have a SVR mortgage you will have seen these rates increase by 0.25% on the 1stSeptember.
If your initial mortgage deal has expired and you have taken no action it is highly likely that you will have been placed on your lenders and will experience increased payments unless you move to a cheaper fixed rate deal.
Depending on your circumstances you may be able to save hundreds of pounds a month so contact us today to ensure you are not paying more than you need to.
You may have an early repayment charge with your current lender and should check before re-mortgaging. We would always advise you to think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.