11/08/2022
Key reasons not to stay on a Standard Variable Rate
Have you thought about your re-mortgage options?
Recent consumer research carried out by L&G, found that 41% of respondents were considering not re-mortgaging, and instead staying with their existing lender and accepting the switch to a Standard Variable Rate (SVR).
So why are people opting to stay? The research uncovered these reasons:
Β· Having debt
Β· Being financially impacted by Covid-19
Β· Worried about lenders scrutinising their finances
Β· Economic uncertainty
But did you know that switching to an SVR could mean facing up to a Β£2,500 annual increase in repayments?
As your advisers, we can help you find the right mortgage deal for your circumstances.
And, we can potentially save you Β£1,000s in unnecessary repayments.
There are plenty of great fixed rate deals available, including furlough-friendly mortgages and specialist lenders who can help borrowers with more complex needs.
Contact Premier Financial Group Today on 01603 750000
You can also visit our website at: https://premierfinancialgroup.co.uk/