Landlords should not ignore this
The vast majority, some 81% of Landlords think that their mortgage providers quietly hope they will slip onto their Standard Variable Rate (SVR) at the end of their fixed rate period.
And a significant percentage do precisely that a new poll has found, finding that over 40% have been on their mortgage lender’s SVR at some point in the past.
Of these people, 17% said they have been on their lender’s SVR for up to 12 months, and 21% said they have been on their lender’s SVR for 12 months or more.
Less than half, 45%, of respondents could confirm they had never been on their lender’s SVR, while 18% had no idea whether they had or not.
Nearly half of those polled, 47%, said they do not believe their current mortgage provider would care if they moved to another lender, which reflects the dysfunctional relationship between borrowers and lenders.