Cheap Remortgage offer – save over £7,500 on your mortgage payments by making a simple switch
An estimated 1.2m mortgage holders are about to receive a payment rise through increases to their Standard Variable Rate. The great news is with the help of Niche Advice this can be avoided. How so? Read on!
I’m pleased to announce I have access to one of the best remortgage products available in the UK for a long time. The product is from the specialist intermediary division of the Woolwich and it comes complete with a free valuation and free basic legal service so you can enjoy the rate reduction fully. It is directly targeted at people who are on lenders standard variable rates (SVRs), many of which have witnessed hikes in their mortgage payments in recent months, and the product enables a switch with minimum cost or fuss.
The table below (fig. 1) illustrates the potential savings that current SVR customers could make by switching to our 3.89% Great Escape 2 year fixed rate 70% LTV product over a two year period on based on a £200,000 repayment mortgage with a term of 25 years. And, depending on the lender the saving could be greater than £7,500.
Why not look at the table below to see what your lender is charging and whether you could benefit with our help.
Examples of lenders current Standard Variable Rates
Figure 1.
|
Current SVR or follow on rate |
Potential savings over 2 years by taking the Great Escape 2 year fixed rate 3.89% |
|
| Abbey (Santander) |
4.24 |
£931 |
| Accord Mortgages |
5.99 |
£5,852 |
| Alliance & Leicester |
4.99 |
£2,987 |
| Allied Irish Bank (GB) |
4.24 |
£931 |
| Amber Homeloans Ltd |
4.95 |
£2,875 |
| Astra Mortgages |
5.35 |
£4,002 |
| Bank ofScotlandMortgages |
4.84 |
£2,569 |
| Barnsley |
4.99 |
£2,987 |
| Bath Investment & Building Society |
5.29 |
£3,832 |
| Beverley |
4.75 |
£2,320 |
| BM Solutions |
4.84 |
£2,569 |
| Bradford & Bingley |
4.59 |
£1,880 |
| Britannia |
4.24 |
£931 |
| BuckinghamshireBuildingSociety |
5.24 |
£3,690 |
| CambridgeBuildingSociety |
4.59 |
£1,880 |
| ChelseaBuildingSociety |
5.79 |
£5,268 |
| Cheltenham & Gloucester |
3.99 |
£264 |
| Cheltenham & Gloucester |
2.50 |
-£3,512 |
| CheshamBuildingSociety |
6.45 |
£7,215 |
| CHL Mortgages |
7.25 |
£9,649 |
| Chorley & DistrictBuildingSociety |
5.49 |
£4,402 |
| Clydesdale Bank |
4.59 |
£1,880 |
| CoventryBuildingSociety |
4.74 |
£2,292 |
| Cumberland |
4.49 |
£1,607 |
| DarlingtonBuildingSociety |
5.95 |
£5,734 |
| DudleyBuildingSociety |
4.99 |
£2,987 |
| DunfermlineBuildingSociety |
5.19 |
£3,549 |
| Earl Shilton |
4.95 |
£2,875 |
| EcologyBuildingSociety |
4.90 |
£2,736 |
| Egg |
5.29 |
£3,832 |
| First Direct |
3.69 |
-£524 |
| First Trust Bank (NI) |
4.24 |
£931 |
| FurnessBuildingSociety |
5.44 |
£4,259 |
| GMAC – RFC |
5.75 |
£5,152 |
| Godiva Mortgages |
4.74 |
£2,292 |
| Halifax |
3.50 |
-£1,016 |
| Halifax |
3.99 |
£264 |
| Hanley Economic Building Society |
5.19 |
£3,549 |
| HarpendenBuildingSociety |
4.19 |
£797 |
| Heritable Bank |
4.99 |
£2,987 |
| Hinckley & RugbyBuildingSociety |
5.64 |
£4,833 |
| HolmesdaleBuildingSociety |
4.89 |
£2,708 |
| HSBC |
3.94 |
£132 |
| ING Direct |
3.50 |
-£1,016 |
| IpswichBuildingSociety |
5.49 |
£4,402 |
| KentReliance Banking Services |
6.08 |
£6,116 |
| LeedsBuildingSociety |
5.69 |
£4,978 |
| Leek United |
5.19 |
£3,549 |
| Loughborough |
4.99 |
£2,987 |
| ManchesterBuildingSociety |
5.49 |
£3,549 |
| Mansfield |
5.59 |
£2,987 |
| MarketHarboroughBuildingSociety |
5.49 |
£4,402 |
| Marsden |
5.95 |
£5,734 |
| Melton Mowbray |
4.99 |
£2,987 |
| MonmouthshireBuildingSociety |
4.99 |
£2,987 |
| NationalCountiesBuildingSociety |
4.69 |
£2,155 |
| Nationwide Building Society |
3.99 |
£264 |
| Nationwide Building Society |
2.50 |
-£3,512 |
| NatWest |
4.00 |
£291 |
| NatWest Int Sols |
4.50 |
£1,634 |
| NatWest Int Sols |
4.00 |
£291 |
| NewburyBuildingSociety |
4.45 |
£1,498 |
| NewcastleBuildingSociety |
5.99 |
£5,852 |
| Northern Bank Ltd |
4.35 |
£1,227 |
| Northern Rock |
4.79 |
£2,431 |
| Norwich&PeterboroughB.Soc. |
5.35 |
£4,002 |
| NottinghamBuildingSociety |
5.99 |
£5,852 |
| Paragon Mortgages |
4.60 |
£1,908 |
| PenrithBuildingSociety |
4.15 |
£690 |
| PrincipalityBuildingSociety |
4.99 |
£2,987 |
| Progressive Building Society |
4.75 |
£2,320 |
| Royal Bank ofScotland |
4.00 |
£291 |
| SaffronBuildingSociety |
5.39 |
£4,116 |
| ScarboroughBuildingSociety |
4.95 |
£2,875 |
| Scottish Building Society |
5.29 |
£3,832 |
| Scottish Widows Bank |
3.99 |
£264 |
| ShepshedBuildingSociety |
5.99 |
£5,852 |
| SkiptonBuildingSociety |
4.95 |
£2,875 |
| StaffordRailway |
3.49 |
-£1,041 |
| Standard Life Bank |
5.34 |
£3,974 |
| Stroud & SwindonBuildingSociety |
5.99 |
£5,852 |
| TeachersBuildingSociety |
4.99 |
£2,987 |
| The Co-operative Bank |
4.24 |
£931 |
| The Mortgage Works |
4.99 |
£2,987 |
| The One account |
3.75 |
-£367 |
| Tipton & Coseley |
4.99 |
£2,987 |
| Ulster Bank (NI) |
4.00 |
£291 |
| Vernon |
4.99 |
£2,987 |
| WestBromwichBuildingSociety |
5.84 |
£5,413 |
| Woolwich (Barclays) |
4.99 |
£2,987 |
| Yorkshire Bank |
4.59 |
£1,880 |
| YorkshireBuildingSociety |
4.99 |
£2,987 |
Correct as at 23 April 2012 and products can be withdrawn at anytime. Extract taken from source material provided by Woolwich.
The above table provides a general illustration of the potential savings (figures with a negative return do not provide potential savings). Please call us to arrange your own specific illustration based on your circumstances and status.
For more information on how we can help you Remortgage please contact us on 0207 993 2044 or alternatively complete the simple enquiry form on the top right hand side of this page.
Author: Payam Azadi
Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines.
