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Further advance on product transfers could help borrowers with energy bills – Star Letter 02/09/2022

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  • 02/09/2022
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Further advance on product transfers could help borrowers with energy bills – Star Letter 02/09/2022
Each week Mortgage Solutions and its sister title, Specialist Lending Solutions, pick the top comments from our readers.

This week the comments come in response to the article: Brokers reveal that rising energy bills are already impacting lender attitudes ‒ analysis.

Simon Wilkinson said: “I wonder if there is scope for lenders to offer a facility for a small further advance on product transfers to assist with energy bills.

“I realise that most borrowers will be experiencing a hike in payments if they have a deal coming up for renewal, but an advance of £1,000 to £3,000 for example, without the need for underwriting or property valuation would help a lot of people and not impact on the lender’s security.”

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