The Council of Mortgage Lenders (who are the trade association for the mortgage lending industry) have released figures indicating that between May and September this year many people will be coming to an end of 5-year mortgage deals.
If your deal is about to come to an end, what are you thinking of doing next?
With interest rates so low, many of you will be looking at your lender’s Standard Variable Rate (SVR). This might be a good option – but not necessarily the cheapest. You could save money by having a look at some of the lenders who are aware of the large shift and are cannily offering better rates than the SVRs.
For example, one lender is advertising deals to Limetree that could save you up to £9,000 over the next two years compared to your current lender’s Standard Variable Rate (based on £150,000 mortgage with a 25 year repayment period, and obviously depending on who your current loan is with).
We have all this information at our fingertips – come and talk to us if your mortgage deal is about to end and you want to find the best one for the next few years.