Published 18 February 2019 · Last reviewed 18 February 2019 · Older article — see current rates
When was the last time you checked your mortgage?
Save money by remortgaging seems like a sensisble action to take after all it’s probably your biggest outgoing. A study by Barclays in January 2019 revealed that £63.4billion worth of residential mortgages and almost £5.7billion worth of buy to let mortgages could be reviewed between March and June 2019 as they are outside their early repayment charge period. Yet why does remortgaging not enter the minds of people when potentially hundreds if pounds a month could be saved?
LETHARGY
The primary reason is undoubtedly is “finding the time” to do the research and searching for the documentation to support the mortgage application. If this is your reason then you probably feel a little ashamed. What could you have done with the money? Afforded a better holiday, car or children’s party? Or simply eased the fear if waiting for payday?
The fact is there are Mortgage Brokers, such as Niche Advice, that have the experience and search tools to pin point the best mortgages. So this just leaves you tasked with the document gathering and this often far easier in the modern world. How so? Well typically payslips, P60s, Tax Returns and bank statements can all be downloaded from their respective websites. In the past the month’s document you wanted would inevitably have been misplaced! The Mortgage Broker will also check these over ahead of submission to the Mortgage Lender to ensure the right level of information is imparted to increase your chances of approval.
CHANGE IN CIRCUMSTANCES
Since taking out the original mortgage all manor of things may have occurred that might make you conclude you will not be eligible to save money by remortgaging.
A professional Mortgage Broker, such as Niche Advice, is just a call away. Normally within this “no obligation” conversation we will be able to advise on whether your mortgage request is possible.
With over 80 lenders at our disposal there is often a mortgage solution even for the most complexed cases. Take a moment to browse the rest of this website to give you an idea on some of circumstances we can accommodate.
UNSURE OF AVAILABILITY
The diversity of mortgages on offer is such that most scenerios are covered:
* Interest only and repayment OR a mix.
* Remortgages of properties bought under Right to Buy legislations.
* Remortgages of properties bought under Shared Ownership or Help to Buy whether looking to replace the current balance or buy the remaining share.
* Suitable for residentials, buy to let, multi-let, HMOs, semi-commercial or commercial.
* Fixed rates without early repayment charges.
* Products that allow unlimited overpaynents.
* Lending into retirement.
* Capital raising including debt consolidation.
* Poorly conducted credit history.
* Variable income streams.
* 95% loan to value
Niche Advice would delight in saving you money by remortgaging. Don’t let your current lender take advantage by charging more than the market rates.