Your mortgage repayments are likely to be your largest monthly expense so if your current mortgage product is due to expire – let’s take a look at the market and see if we can get a better deal to reduce your monthly outgoings.
If your mortgage product is due for renewal we recommend that you let us shop around and compare deals. The chances are that the value of your home has increased since your last mortgage product renewal which is great news in mortgage terms because your LTV (loan to value) will have decreased.
Generally the lower the LTV the more competitive the options you have – you present a lower risk to lenders so they’re much keener to get your business. From this stronger position we’ll be able to secure you a lower borrowing rate which means you can make some big savings on your monthly repayments by securing a better mortgage deal.
LTV really is key to making substantial savings and our advisers will work hard to ensure your borrowing is secured at the lowest LTV, this may mean switching lenders or challenging your existing one.
If you’ve been meaning to remortgage but haven’t got round to it you may have noticed an increase in your monthly repayments, this will be because you have slipped onto a standard variable rate. We can easily rectify this but it is surprising the amount of people who are simply wasting hundreds of pounds every month because they never get around to remortgaging.
If you have noticed an increase in your monthly repayments please contact us. If you are aware that your current mortgage product is due to expire within the next 6 months again please contact us. If your mortgage product is due to expire in more than 6 months we are happy to keep track of the date for you and send you a reminder when it’s time to remortgage.
Your home may be repossessed if you do not keep up repayments on your mortgage.