Hi,

I currently have a fixed rate mortgage (5.69%) with mortgage express which expires in Dec 09 and am trying to work out what I will be paying when I move onto the SVR - I'm unlikely to be able to move to another fixed rate due to negative equity.

I've read in a few other posts that mortgage express' SVR is contractually linked to the BoE base rate and they have no choice but to pass on the base rate cuts. Is this right? If so, does anyone know how they calculate their SVR- ie. BoE base rate + what?

Thanks in advance.

Ben

Just called mortgage express enquiry line and got the answer I was looking for!

My mortgage reverts to the product variable rate (PVR) when it expires not the SVR. The PVR is essentially a tracker at base rate + 1.75%, so I may well save a bit come December which is good.

Ben