As a nation, we aren’t great with our financial acronyms and terminology. Life is busy and our heads are often full of important things to get done to make it through the week, without having to worry whether we know our LTV from our ERC!

Incase you were wondering….




Early repayment charge


Standard variable rate

You’re certainly not alone if you’re feeling financially flustered. Recent research has found that more than a fifth of British adults are confused by everyday financial terms.

Worth taking the time to review your mortgage

When you do find some time to settle down on the sofa with a cuppa or a glass of wine in hand, if you are a mortgage holder, it could be a good time to become familiar with one important acronym worth knowing – SVR or Standard Variable Rate.

You may find that you are automatically switched to an SVR when your existing mortgage deal, whether that be a tracker, fixed rate or discounted mortgage, comes to an end. Unfortunately, this could mean you’re paying over the odds, perhaps without even realising. SVR rarely offer the most competitive rates and the SVR interest rate is
usually linked to a percentage above the bank’s base rate, meaning the rate can rise and fall, which makes you more vulnerable to potential interest rate rises in the future.

Take advantage of record low mortgage rates

After two Bank of England base rate cuts earlier this year, mortgage rates have remained at record low levels, so it makes sense to see if you can save money by switching to a better rate.

Good advice that cuts through the jargon

In a complex environment, getting good, clear advice can really pay – so get in touch and we’ll guide you through the process, without using jargon.

Don’t worry if you’re currently locked into a mortgage deal that has exit charges, you don’t have to wait until it has come to an end as your adviser can help you find a deal three or six months before your lock-in period finishes.