Abbey fixed rate ending - very confused!!

seaglimpses

Our fixed rate mortgage with Abbey is coming to an end soon and I am very confused about what is going to happen next - the original information I have states it will go to the SVR but I cannot see anything about this rate on their website - I am thinking that we are not able to remortgage as I don't think there is enough equity left in the house especially with lenders wanting such a high LTV rate! Anyone know what happens next? Many thanks.

sammyjammy

The current SVR 4.24%, they've just reduced it by 0.45% following the change in interest rate, you will move onto this rate if you don't remortgage elsewhere.

seaglimpses

Thanks SammyJammy - so even though its not offered as an option on the website it would still revert to that yes?

Mathew

I am in a similar position with Abbey, if you view any of there fixed rate offers (indeed any offers) there is a box saying something to after which you revert to SVR, currently 4.24%. That is what will happen with you

SolicitorMidlands

We are just about the buy and that's the mortgage we have been advised to go for by the adviser.

seaglimpses

That's great - thank you! Was starting to go round in circles with it!