You are here: Home - News -

Dynamo to send six-month mortgage-end alerts as third of borrowers fall on to SVR   

  • 14/05/2018
  • 0
Dynamo to send six-month mortgage-end alerts as third of borrowers fall on to SVR   
One in three borrowers coming to the end of their mortgage deal end up on their lender’s Standard Variable Rate (SVR) costing them an average of £371, according to online adviser Dynamo.


The digital adviser is to start sending alerts to borrowers who are six and three months from the end of their term when they sign up for the service.

Dynamo found mortgage holders spent 42 days on average on SVRs after their deal has expired.

The adviser has now launched a mortgage alarm clock to help people who sign up switch deals before it’s too late.

Seb McDermott, chief executive officer at Dynamo, said: “The research shows that far too many people are not switching mortgage deals in time.

“We strongly urge mortgage holders to give themselves enough time to find their next remortgage and that’s why we have launched our Dynamo Mortgage Alarm Clock.

“We typically recommend people start their search around four months before their current deal is due to expire.”

There are 0 Comment(s)

Comments are closed.

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
Know Your BDM: Ashley Pearson, Loughborough Building Society

This week Mortgage Solutions is talking to Ashley Pearson, business development manager at the Loughborough Building Society.