Mortgage mistake costing 600,000 homeowners £4,600 a year – and easy way to fix it ...Middle East
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HUNDREDS of thousands of homeowners are making a costly mortgage mistake that is adding thousands of pounds a year to their bills. Borrowers who fail to take out a new mortgage in time before their term ends are automatically shifted on to their lender’s Standard Variable Rate (SVR). GettyFalling onto a SVR could be a costly mistake for borrowers to make[/caption] These default rates are typically far higher than fixed or variable deals and the difference can translate into thousands of pounds extra on mortgage bills. A whopping 600,000 mortgag
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