Hi, I have a BTL mortgage with a lender whose SVR is quite high. I am thinking of few options with one being a tracker for life (3.49% on top of BOE base rate) and other being C&G. C&G have 2yrs fixed then switching to their SVR which currently stands at 2.5%. I read on their website that their SVR will not go above 2% of BOE rate. I asked them to provide an illustration but they can not give this SVR rate pledge in writing. I am wondering if they will stick to this pledge or not. Any advise?
Thanks in advance

Hi landlord,
I don't know why they wouldn't confirm their pledge. Just ask them to send you an illustration, KFI, it will have all details you are looking for. However, be careful with a life tracker, as 3.49% above the BoE rate is not bad right now, but what if BoE rate went up to 4%? Did you ask your current lender if they can offer any good deals, fixed or trackers?

Frankly, I find it strange that they would not provide you with the illustration. Perhaps,you should be a wee bit more persistent...