Research by Alliance & Leicester Mortgages reveals that homeowners currently on their lender’s SVR risk missing out by not taking the chance to fix now at a low rate. With fixed rate deals now available from as low as 2.99%, A&L is urging borrowers who need to remortgage to act quickly in order to secure some of the best deals currently on offer for a limited period only.
The research revealed that eight out of ten (81%) borrowers currently on their lender’s SVR deal have no immediate plans to search for a better deal, with a further 264,000 existing SVR holders (14%) planning to wait until interest rates and house prices start to rise again.