Interest rates at record low but some borrowers could still save 'much more' on mortgage
However, there are challenges which some may encounter. She said: "Borrowers sitting on a standard variable rate mortgage (SVR) may have seen their repayments fall in light of the two base rate cuts seen in March 2020, but they could stand to save much more by switching to a fixed rate deal. "However, the impact of the coronavirus may have made it difficult for some consumers to move their mortgage, some may even be mortgage prisoners if their circumstances have changed drastically due to the pandemic. “Mortgage availability was hit hard during 2020 and there was more caution adopted by pro...
Source: express.co.uk