Anyone heard of these?, can explain them good or bad?
No lender seems to be offering them in the UK yet?
Sounds like another bit of meaningless jargon. I'm sure it means something
to the guys selling it though, which goes something like:
You need a wraparound mortgage because it wraps around everything. No one
else offers true wraparound mortgages - phone up and ask them - some offer
wrap-half-way-around mortgages, but those don't wrap around everything. If
you want a true wraparound mortgage you must sign here before the start of
the next wraparound cycle.
as someone who works in the mortgage industry offering mortgages, Wraparound to
me means nothing more than an extended tie in period!
Ie: 2 yr fixed rate with early repayment charges for 5yrs therefore 3yrs at a
variable rate (usually a SVR)
some lenders still do these, especially on mortgages like Self Cert, Credit
Sols mortgages and some discount rates have them.
I would certainly recommend the SVR. Since I fitted one to my car it has run
much quieter and it uses less petrol.