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Looking to remortgage? Tips to help you navigate the current mortgage market

We understand that the current challenges we are all facing in light of the cost of living squeeze and the rise in interest are causing concerns for many homeowners. If your current mortgage deal is looking to end in the next 12 months, you have options you can explore now.

Start the remortgage process early

Avoid landing on your lender’s standard variable rates! Some lenders can lock in deals up to 6 months in advance so let’s start the conversation as soon as possible!

Use professional advice

Rates are changing and are currently being withdrawn at high speed, but a whole of market mortgage broker will be able to navigate this volatile market for you. We know the market inside out and have access to exclusive rates you may not be able to find elsewhere.

Monthly repayments too high?

One way to soften the blow and lower the mortgage payments is to change lender and increase the mortgage term. Although you will end up paying more interest overall, as a short-term fix. If your own personal circumstances improve and/or rates go down later, you may be able to reduce your term again when your next remortgage.

Consolidate your debt to ease the burden of financial outgoings

If you have a considerable amount of debt in loans and credit cards, you are likely to pay a hefty amount each month to repay it. By consolidating your debt with your mortgage you may reduce  your monthly outgoings since interest rates on secured borrowing are typically lower than on unsecured borrowing.

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.

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.

Remember, our team of experienced financial advisers are available to provide personalised guidance tailored to your specific needs and circumstances. If you would like to discuss your financial situation further, please do not hesitate to get in touch.

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. The exact amount will depend on your circumstances. Some forms of Buy to Let mortgages are not regulated by the Financial Conduct Authority.

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Fairview Financial Ltd is an appointed representative of The Right Mortgage Limited, which is authorised and regulated by the Financial Conduct Authority. Fairview Financial Ltd is registered in England and Wales no: 10912424. Registered office: 107 Promenade, Cheltenham, GL50 1NW.

The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.

@ 2020 by Fairview Financial

Our Fees        

A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.

Our standard fee for mortgages is £395 and this is paid when the mortgage is offered. We charge a fee of £295 First-Time Buyers. Other fees may apply depending on the complexity of the work involved or loan amount. The maximum fee we can charge is £795.

Our standard fee for Equity Release is £895 and this is paid on completion.

We also receive a commission from the lender that will vary depending on the lender, product or other permissible factors. The nature of any commission model will be confirmed to you before you proceed. If we receive a commission, this will not affect the cost payable by you.

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.

BUY TO LET MORTGAGES ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

EQUITY RELEASE: THIS IS A LIFETIME MORTGAGE. TO UNDERSTAND THE FEATURES AND RISKS, PLEASE ASK FOR A PERSONALISED ILLUSTRATION. CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT. IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE.


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