Mortgage changes ahead?

Home Loans

Mortgage changes ahead?
(presented by www.refinance-refinance.net - mortgage lenders)

By michael�challiner

Borrowers should be aware of some of the changes taking place in the mortgage industry after two building societies recently implemented rises in their SVR (standard variable rate). As the last Bank of England interest rate has remained steady for over 11 months, and especially as the last move was downwards, this has angered and surprised their customers.

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The two societies are N&P (Norwich and Peterborough) and the Nottingham. Borrowers with either of these societies whose mortgage is linked to the SVR will now face increased monthly repayments.

N&P

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