Switching from an expensive SVR to a cheap fixed rate mortgage makes sense.
There are so many cheap fixed rate mortgages on offer that it makes no sense to remain on an expensive SVR.
One lender with plenty of cheap deals is Barclays. Currently it has a 2 year fixed rate mortgage for 60% loan to value at 2.09%. With a rate this low you could save yourself a huge amount of money over your mortgage term if you switched products.
If you are on a standard variable rate mortgage you could save money by contacting Deal Direct to find you a cheaper mortgage on 0800 048 8828.
How much could you save by switching from an expensive SVR to Barclays' 2 year fix at 2.09%?
If for example you are one of the tens of thousands of Bank of Ireland SVR mortgage-holders whose rate has risen to 4.49%, you could save yourself thousands a year with the Barclays mortgage at 2.09%.
With a £150,000 mortgage you could save up to £3,500 over the next 2 years, if you remortgaged from the Bank of Ireland's SVR at 4.49% onto Barclays 2 year fixed rate mortgage at 2.09%.
Think of what you could do with the extra money. You could even pay down your mortgage with the money you save to pay off your home loan that bit sooner.
With average SVRs set at 4.4% its makes no sense to be paying more for your home than you need to, when a quick call to Deal Direct means you could move onto a far cheaper rate.
To review ALL fixed rate mortgage deals call an adviser today on 0800 048 8828.
Contact Deal Direct and let us find you a cheaper offer.
