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Old 23.06.2021, 08:40
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Phil_MCR Phil_MCR is offline
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Re: Renewal of mortgage-SARON rates

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Hi all,
I am down to renew part of my mortgage and I was wondering if people know how much SARON rates are?
Also, is one able to switch lenders for that portion of the mortgage if not happy with the rate the current lender offers? If so, any special conditions?
Are brokers who advertise online reliable?
Cheers,
Banchang
if you already have one mortgage tranche, another bank will not normally give you another loan as they may not be able to get security for it. if you want to switch lenders, you probably need to switch completely. that's why it is not good to have multiple maturities unless you're able to pay off at each maturity date otherwise, you are locked to the current provider with whatever rates they will give you.
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