Borrowers who register for the free Mortgage PROMPT service will receive a text message direct to their mobile phone two months before their current deal ends. This enables them to shop around for the best deal in plenty of time for a smooth switch.
James Cotton, Mortgage Specialist at L&C says, "Remortgaging can take a couple of months to complete, so 30 seconds work to register for Mortgage Prompt now could save you £352* just by cutting out any delay."
"Anyone with Early Repayment Charges on their current deal should register for this service. With the savings that can be made by switching to a new competitive deal, there is no need for anyone to be paying their lender’s Standard Variable Rate."
Registering for the Mortgage PROMPT service could not be simpler. By visiting L&C’s website (www.lcplc.co.uk), borrowers can request an alert by either text message or email and all they will need to provide is their contact details and a record of when the Early Repayment Charges on their current deal finish. Alternatively they can call 0800 953 0305.
