Mortgages – are you paying too much?
A mortgage is the biggest financial commitment most of us make in our lives. Given that it provides the security of a roof over our head, it is also one of the most important. As the largest commitment, it is crucial that you get the right deal. Given the amount of money it costs to buy a house, just a small change in interest or discount rate can have a huge effect on the amount you pay out on the mortgage.
Could you save money?
The mortgage market is very competitive and, despite the reduction in the number of products being offered, the current Bank of England interest rate, at a record low of 0.5%, means there are still deals to be had if you shop around. There are excellent opportunities for house buyers, particularly if your equity has grown significantly since you first moved in. If you took your mortgage out a number of years ago, chances are you could benefit significantly by finding a better deal.
Minimising all the costs
Remember the cost of moving a mortgage is not just the cost of the mortgage deal. You do need to weigh up the cost of any fees against the reductions. However, many providers are so keen to win your business they can sometimes even offer to pay legal or survey costs for you.
A comprehensive review service
At a time when mortgage deals are harder to come by it is even more important to seek independent, whole of market advice to guarantee you aren’t paying too much.
For a free initial consultation please contact me on 07961 487286, at the above address or by e-mail at nishshah@thinkpositive.co.uk
Your home maybe repossessed if you do not keep up repayments on your mortgage.
We give you the option of paying a fee for our mortgage advice. The precise amount will depend upon your circumstances, but will typically be 0.3% of the loan e.g. £300 on a loan of £100,000. If you choose to pay a fee and we receive commission, we will pay that commission to you.
