Don't Wait Until Your Two-Year Deal Finishes Switch Now and Save

Mail on Sunday › June 27, 2007

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Summary

BORROWERS signed up to two-year fixed-rate mortgages in their millions in 2005, locking them into attractive rates that will soon expire. But when those deals end, the rate they pay reverts to their lender's standard variable rate.

This means borrowers could see rates leap from 4.5 per cent or less to 7.5 per cent or more.

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Extract

Don't Wait Until Your Two-Year Deal Finishes Switch Now and Save

Standard variable rates are linked to the Bank of England's base rate,...

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