More borrowers could end up on SVRs
17 June 2008
It is not unreasonable to predict that a higher proportion of borrowers will be on their lender's standard variable rate (SVR) than on an actual mortgage deal if the current economic climate continues, according to Moneyfacts.co.uk.
However, the financial information provider explains that with certain lenders offering low SVRs, "this isn't bad news for all customers".
In news that may interest those looking to compare popular mortgages, it suggests that if the Bank of England maintains the current base rate level, or elects to lower it, certain lenders' SVR rates will become "increasingly attractive".
Investing in an ISA .. Legal & General ISAs
The organisation suggests that the current two-year variable rate mortgage stands at 6.66 per cent.
In comparison, the average two-year fixed rate mortgage stands at 6.75 per cent, the highest seen in the last ten years.
Meanwhile, Moneyfacts.co.uk recently suggested that changes to the London Interbank Offered Rate could help bring stability to the mortgage market.
The Housing Market June 2008 
