Now is a good time to check the existing terms of your residential mortgage to see when your current product expires. If it’s expired already, you can either product transfer with the same lender, remortgage to a new lender if your circumstances allow it, or stay on the lenders higher variable rate.
Rates are still low and whilst more questions may be asked on a remortgage about the certainty of your wage, or profits if self-employed, it’s worth looking at the options for you.
Only this week we have saved a client £800 per month by going to another lender, rather than going on the lender’s variable rate which was almost three times his current rate. There won’t be savings available for everybody but it’s worth having a review at no cost to yourself. If you want one please contact us and we can see what options you have.