Mortgages Online UK

The general term of taking out a remortgage implies the switching of your existing mortgage to a new agreement, usually with a new mortgage lender. Millions of borrowers during the term of their mortgage pay the standard variable rate (SVR), which is by no means the best offer the mortgage lender could provide. There is no reason why the borrower can’t change to a lower rate or more suitable deal from the SVR. However, if the borrower has just come from a fixed or discounted rate, which does usually incur a penalty for doing so, the savings may well be substantial.

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