13:34 PM, 24th March 2021, About 3 years ago 5
I have just received a letter from Amber Home Loans saying that in the transfer of my BTL mortgage to Skipton Building Society I have to accept a change of terms in which the SVR will switch to Skipton’s BTL SVR – currently 4.6%.
I can either pay off my mortgage or accept a hike of 3%. Highly alarming, but it does go on to say that if I am on an SVR linked to BoE rate or LIBOR this will not happen.
This is a highly alarming way to word the letter. Especially when it highlights “In the event of any conflict between the changes to the T&C’s set out below and any provisions in your existing mortgage account T&Cs, the provisions below will apply.
Can someone reassure me that my original T&Cs still hold as per the previous rate hike battle?