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Fixed rate higher than SVR!!!

itsnever2lateisit?
itsnever2lateisit? Posts: 863 Forumite
in Mortgages & endowments
I know the mortgage market is in turmoil, but this is the first time I seen customers being charged a fee to get a rate higher than the SVR:confused:
http://www.postoffice.co.uk/portal/po/content1?catId=58200695&mediaId=58200697
[strike]Debt @ LBM 04/07 £14,804[/strike]01/08 [strike]£10,472[/strike]now debt free:j

Target: Stay debt free

Comments

  • ajaxgeezer
    ajaxgeezer Posts: 2,476 Forumite
    Hahha... maybe the post office reckon that SVR will be a LOT higher by 2011. The way things are at the moment, who's to judge anything? :)
  • ManAtHome
    ManAtHome Posts: 8,512 Forumite
    Part of the Furniture Combo Breaker
    Could be wrong, but I'm guessing the SVR isn't BoE-linked..?
  • dunstonh
    dunstonh Posts: 121,126 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Its happend many many times before. Usually when rates are on an upward trend or likely to see long term rises. Much the situation expected going forward.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • jamesd
    jamesd Posts: 26,103 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    It's a self-certified income mortgage, so with higher risk than usual.
This discussion has been closed.
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