1stimebuyer
Registered User
- Messages
- 11
I have a mortgage with UB and am on their Loyalty Plus - Discounted Variable @3.1%
Loyalty PlusDiscounted Variable
Up to 80% 3.10%
(4.30% SVR* - 1.20%)
For the past month or so UB have been offering the same rate on a fixed term of 5 years.
Loyalty PlusFixed Rate - Up to 80% LTV 3.10% 4.30% SVR*
From reading this forum and other forecasters it seems that mortgage rates might increase in the next year.
I suppose my main question is relative to the SVR. It seems that SVR is mainly for people rolling off Fixed rates and there are usually better deals on fixing or better 'promotional' variable rates.
If UB started to increase their rates would SVR be hit? It seems that their discount rates, variable rates and fixed rates may change but as the SVR is so far above current fixed and variable rates (and massively over the european average). Does the SVR raise if interest rates raise?
Loyalty PlusDiscounted Variable
Up to 80% 3.10%
(4.30% SVR* - 1.20%)
For the past month or so UB have been offering the same rate on a fixed term of 5 years.
Loyalty PlusFixed Rate - Up to 80% LTV 3.10% 4.30% SVR*
From reading this forum and other forecasters it seems that mortgage rates might increase in the next year.
I suppose my main question is relative to the SVR. It seems that SVR is mainly for people rolling off Fixed rates and there are usually better deals on fixing or better 'promotional' variable rates.
If UB started to increase their rates would SVR be hit? It seems that their discount rates, variable rates and fixed rates may change but as the SVR is so far above current fixed and variable rates (and massively over the european average). Does the SVR raise if interest rates raise?