Are you still paying the Standard Variable Rate (SVR) on your mortgage?
If the answer is yes, then you could be paying TOO much for your mortgage.
Here are a selection of SVR’s from some of the more popular lenders-Santander (Abbey) 4.24%, Bank of Scotland 4.84%, Clydesdale 4.59%, Halifax 3.5%, Northern Rock 4.79%. (as at June 2011)
One special deal available at the moment is The Great Escape package from Barclays/Woolwich which has no arrangement fee, no valuation fee or legal fees AND pays £300* cash back. But the good news is the rate currently stands at 2.89%, that’s cheaper than many SVR’s. This is a variable tracker rate at Bank of England Base (currently 0.5%) plus a margin of 2.39%, (providing a rate of 2.89% as at June 2011) for the life of the mortgage.
Whilst it is likely that rates will rise in the short term, this product also allows you to switch, without penalty, into one of their fixed rates if you prefer the certainty of a fixed rate. There is no minimum or maximum loan value but early Redemption charges may apply
Please note that this deal may not be applicable to all customers but there are other deals available and will be dependent on a customer’s current needs and individual circumstances.
Well there you have it, a no brainer for the summer to compensate for those rising fuel bills.
Don’t be complacent, there is usually no penalty coming out of a SVR product, please call me now.
Don’t delay until it may be too late, call us now on 020 8455 8555 or email us at enquiries@signetfinancialservices.co.uk – to ask for our initial advice will only cost the price of a phone call and it could provide you with the possibility of saving a substantial amount of money each month.
The Financial Services Authority does not regulate finance and some aspects of buy to let arrangements and commercial mortgages.
Your home may be repossessed if you do not keep up repayments on your mortgage. In certain circumstances there may be a fee for mortgage advice, the precise amount will depend on your circumstances and if a charge is made you will be advised at outset and we estimate it will be approximately £250
