Homeowners Stung for £2500 on average
Recent research has shown that homeowners who do nothing at the end of their initial mortgage rate pay, on average, over £2500 per annum more in mortgage interest. That’s over £200 per month!!!!
The study analysed the top sixteen mortgage lenders and compared the cost of reverting onto the lenders standard variable rate (SVR) against opting for a 2-year fixed rate.
One of the main reasons cited by borrowers is because of the lack of communication either from the lender or the mortgage broker.
According to the statistics, there are two million people who are presently on the SVR. This is a whopping £5 billion worth of savings to be had if everyone switched.
There are some fantastic mortgage rates available now and it really is worth getting expert advice when it comes to re-negotiating your mortgage. Conran Mortgages are independent and offer whole of market advice. What’s more, we DO NOT charge broker fees… now that is a refreshing change huh!
For more info then visit www.conranmortgages.co.uk or call us free on 0800 689 3173 and let us do the hard work for you – we are happy to be challenged to find you a better deal!!