Questions for you experts!!

Lodge

I am 18 months into a 2 year fixed deal (5.89%).

The questions I have are:

1. When the deal is up, will I be put on the banks (Nat West) Standard Variable Rate?

2. Do they have to offer me another deal?

3. If I opt for SVR, can I go onto a deal at a later date (ie/ if the rates start to go up)?

4. What are the current SVR's?

Thanks.
D.

~Beanie~

1. Yes
2. No
3. Probably, as long as you fit their criteria
4. 4.19 as far as I can see

firesidemaid

i don't know what your loan-to-value % is or if you have any spare cash, but you can start looking for another deal from now on.

many lenders will hold/lock a rate for 6 months for you. we signed up to a FD tracker rate back in october at 5.79%. it has since followed the base rate and is currently 1.79% - we don't go onto it until the start of next month.

obviously if you pay an arrangement fee and change your mind then you lose that. just keep an eye out for deals that you like, depending on your circumstances.

there seem to be some good rate trackers and 2 year fixed rates, but longer fixes are dearer.