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

Anna Sagar
Written By:
Posted:
September 2, 2022
Updated:
September 2, 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.”