Are you paying too much and how would you know? Unless you’ve just moved house or remortgaged the chances are that like 1000’s of others you don’t know what interest rate you are paying for your mortgage. That’s nothing to be embarrassed about but it is something to address. If you’re uber savvy you’ll be fully aware of the rate you are paying, if it’s a fixed rate and when your rate finishes. If you’ve got 100 and one things going on in your life the chances are you either have no idea about your mortgage finances or at best a pretty vague one.
Thankfully getting up to speed with your mortgage finances is not an arduous task and with the help of a mortgage adviser you can quickly identify if you’re unnecessarily paying too much and if so how to resolve the issue and start saving some money.
The first step is to find your mortgage paperwork and take a look at the rate or contact your lender and ask them. If you were on a fixed rate and have slipped onto your lenders standard variable rate then you are very likely to make some substantial savings.
“People are time poor and this can be a huge problem” said adviser Matthew Southey, “people are super busy and fear the process of switching to a better rate will end up taking up huge amounts of time. When people realise they can potentially save £1000’s of pounds a year they become hugely motivated to giving us an hour or so of their time to work things through. We do all we can to smooth the process of switching rates and or lenders and have a team of people on hand to make everything as painless as possible”.