With rates at an all-time low and lenders constantly releasing new deals as they attempt to increase their share of the mortgage market, there has never been a better time to look at switching your provider and saving some money on your monthly outgoings.

There are a large number of people who are currently on their provider’s standard variable rate (SVR), following the expiry of a fixed rate, who could literally save thousands of pounds by switching to a better deal. So strong is the competition that, over the last four weeks alone, a typical mortgage of £200,000 on a five-year fixed rate has fallen by around £1,700.

The SVR of each individual lender is generally higher than the other deals that are available. It is often referred to as their ‘follow-on’ rate, as it is the rate that ‘follows’ the expiry of a fixed rate. The Bank of England revealed that the average SVR is now 4.48%, and with many fixed rates now at 1.2% or less, borrowers can really reap the benefit of switching and see the savings in their monthly budgeting.

Working in the industry as a mortgage advisor, you will be the main contact point for customers looking to save money on their home loan. Having completed your CeMAP training and gained a pass mark in the end exam, you will be able to assess customer affordability, while fully complying with the regulations set out by the Financial Conduct Authority (FCA), best advising them on the most suitable mortgage package.

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