Review your SVR today with mortgage broker, Deal Direct.
Bounce back from last week’s news of a rise in the base rate and review your current home financing situation with expert mortgage broker, Deal Direct.
Last week saw The Bank of England raise the base rate from 0.25% to 0.5%. This is the first rise in a decade and has led to mortgage lenders rushing to adjust their pricing.
If you one of the thousands of borrowers across the country who is sitting on their lender’s SVR, there will be an immediate effect as the increase is applied to your monthly repayment. Your pocket will feel the impact and the rises are expected to continue.
The Inflation Report released by The Bank of England suggests that the base rate will increase to 1% by 2020. The prediction is that the rate will rise to 0.7% by the end of next year and to 0.9% by December 2019. These increments are higher than previous predictions and have been fueled by the continued uncertainty in the economy.
This means that if you do nothing and remain on your lender’s SVR, your mortgage repayments will only get more expensive over time.
Reviewing your current home financing situation couldn’t be simpler. Our expert mortgage advisers are available right now to take your call and discuss with you the value of each type of mortgage. With our help, we can find you the perfect option that reduces the impact of the rate increases on your outgoings.
Don’t delay and speak to Deal Direct on 0800 048 8828.
