The Mansfield BS lowers its SVR.
There have been a handful of lenders that have so far lowered their standard variable rate in line with the BoE base rate cut.
The latest to announce that their rate has been cut is the Mansfield Building Society. It’s reducing its SVR from 5.59% to 5.34%. While this is good news, SVRs are still set far higher than average fixed mortgage rates, which leads to the question – why on earth would you switch on a high rate SVR when there are cheaper deals out there?
If you are coming to the end of your mortgage term, then we strongly recommend that you don’t let your mortgage default on to your lender’s SVR. Doing this could cost you thousands over your mortgage term.
Instead seek no-obligation advice and a ‘whole of market search, by calling 0800 048 8828.
When you speak to a Deal Direct adviser, you can be sure that you are receiving impartial and independent advice. We are not affiliated with any lender, which means our advice and product recommendations are based solely on your financial circumstances and mortgage needs.
Since Brexit remortgage rates have hit record lows, which makes now the best time to search the market and switch deals.
Find out how much we could save you on your home.
Call Deal Direct today on 0800 048 8828.
