Standard Life SVR

hedger

Im coming out of a 2 year fixed rate deal with Standard Life. They tell me that I will revert to their SVR of 5.34% and that no new mortgage products are available to me. I asked them wud their SVR change to Barclays/Woolich SVR in the near futrue - they cudnt answer that

anyhow is this SVR bad and shud I switch to another lender? I have the SL mortgage completely offset atm with savings

speedbird1973

If your mortgage is 100% offset what's the point? 1% or 10000000% you're paying no interest. (unless I misunderstood you?)

hedger

speedbird1973 wrote: »

If your mortgage is 100% offset what's the point? 1% or 10000000% you're paying no interest. (unless I misunderstood you?)

yeah but I want to use some of that capital for something

speedbird1973

ah ok - in that case i guess it depends on how much capital? and over what period do you want to pay it off? You will get a much better rate, for example First Direct to cheap offset trackers, some of which have no fee. You may as well switch over and borrow the money at that lower rate.