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  • Mortgages & Finance

    Don't get stuck on an SVR - it will cost you!



    Our first post as the new PT Brokers team is a timely reminder to be pro-active in checking your mortgages and making sure that you do not end up on the lender's SVR at the end of a fixed rate deal.  It could end up costing you!

    A third - 33% - of mortgage holders ended up on their lender’s Standard Variable Rate (SVR) last year, costing them on average £371, a new study shows.

    Remortgagers who left their mortgage renewal too late spent an average of 42 days on their lender’s SVR at an additional cost of £61.83 per week on average, according to the research, which calculated the cost of not remortgaging before the existing mortgage product expires by tracking the proportion of people who ended up on their lender’s SVR in 2017 and how many days they remained on that rate.

    Full/source article 

    In this interview, our very own Ray Boulger talks about the options for landlords who have come to the end of their mortgage deal:



    The PT brokers team be contacted on 0333 3636507 and can assist with all types of BTL and property developer finance.

    We look forward to supporting the Property Tribes community in securing the finance they need to move forwards.

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    Call the PT Broker Hotline on 0333 363 6507 or email us at propertytribes@johncharcol.co.uk