Money saving remortgage (November 2009)
Our clients had a mortgage which had moved onto the lenders standard variable rate which was at the time, 4.94%. Having been on a fixed rate previously at 5.89% they were feeling rather pleased and better off!
They were however, concerned that interest rates would start to climb again in the future, and were keen to protect themselves for the next couple of years, against interest rate rises and therefore wanted to take another fixed rate.
We were able to find them a deal at 3.89% which at the time was extremely good. This rate was fixed for 2 years and therefore not only saved them money, but gave them the cushion against rate fluctuations that they wanted.
