If getting on top of your finances is one of your New Year’s resolutions for 2024, don’t overlook your mortgage arrangements.
For most of us, our home loan represents one of the most significant financial commitments of our lifetimes, yet too few people review their mortgage regularly. If that’s you, don’t delay any longer – an overhaul of your mortgage could unlock significant savings, enable property improvements as your life changes, or give you an opportunity to move home.
If your current mortgage deal is looking to end in the next 12 months, you have options you can explore now:
Current rate ending in the next 6 months?
Secure a new deal ahead of your existing rate coming to an end and moving to a more expensive standard variable rate. Our brokers will diligently monitor the market for you to ensure you get the most competitive deal possible.
On a variable or tracker rate?
Contact us so we can discuss if you ditch, switch and save - act quickly as the market remains is rapidly changing.
Thinking of moving house before your rate comes to an end?
You may be able to port your existing mortgage or obtain a new mortgage with another lender, we will explore the right options for your circumstances.
Struggling with debt?
You may be able to reduce your monthly outgoings by consolidating your debt with a new mortgage.
Still dreaming of those home improvements?
You could consider increasing your mortgage and using the additional capital to fund your renovations.
Unsure of your options?
As a mortgage holder, it can be confusing and unclear what the changes mean to you, but if you’re unsure we’d encourage you to pick up the phone and get in touch with us to discuss your current situation so we can advise on the most suitable options.
If you’re struggling to pay
Avoid missing repayments without first speaking to your lender- they may be able to help. With the cost of living increasing, many homeowners are struggling to meet their mortgage repayments. Missing a mortgage payment is known as falling into 'arrears'. You want to try to avoid this as best you can, as it'll have a serious impact on your ability to get credit in future. So, speak to us, or your lender as soon as you can to discuss your options.
Speak to our team of experienced advisers who are available to provide personalised guidance tailored to your specific needs and circumstances
SPEAK TO AN ADVISER
Think carefully about securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it. You may be charged a fee for mortgage advice.