Wraparound mortgages

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.
Reply to
DP
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.
Reply to
Joneseyboy2002
I would certainly recommend the SVR. Since I fitted one to my car it has run much quieter and it uses less petrol.
Reply to
DP

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