From 1st December 2017, mortgage payments for homeowners on Standard Variable Rates with their lenders will increase.
When the Bank of England announced in November 2017 an increase in its base rate for the first time in 10 years to 0.50% ( an increase of 0.25% ) homeowners on fixed rates were not worried as their rates would not increase until their existing deals finished.
However, homeowners whose existing fixed rates have finished or due to finish will have to pay their lenders Standard Variable Rate ( SVR ) which currently range from 3.99% upwards to over 5% in some cases.
Contact Manchester Mortgages on 0161 706 0242 to discuss your circumstances and options.-
It maybe that your circumstances have changed since you arranged your mortgage with your existing lender and you do not feel comfortable speaking with your lender especially if your existing lender is one listed below –
- BIRMINGHAM MIDSHIRES
- NAT WEST
- SCOTTISH WIDOWS
- THE MORTGAGE WORKS
- VIRGIN MONEY
At Manchester Mortgages you are speaking to experienced mortgage brokers not your existing lender – we can advise on the best mortgage for you – it may be with your existing lender or with an alternative lender.
Ring us on 0161 706 0242 to see if we can save you money on your mortgage and get you a competitive mortgage rate not a lenders Standard Variable Rate.