Amy Kadir, mortgage broker - Why remortgage with Lonsdale Mortgages

Monday 7 November, 2022

Call your local Lonsdale Mortgages broking team in St Albans, Lichfield or Chippenham for mortgage advice as we offer bespoke remortgage and protection advice. We will liaise with your current mortgage lender and solicitor to arrange your mortgage, saving you time, helping you to remortgage quickly. 

Now mortgage rates are increasing benefit from using a local mortgage broker

According to a MoneyFacts report in October 2022, the average mortgage interest rate has increased from 2.25% last year to over 6% today. This means, households are now paying the largest portion of their income towards mortgage payments since 1989. 

Should you remortgage if your circumstances have changed? 

If your personal or financial circumstances have changed recently, you may want to consider remortgaging. If your salary has increased and you are now able to overpay, you could save money by switching to a mortgage product that enables you to do this. Alternatively, If you want to borrow more money on your mortgage and your existing lender cannot offer this or the terms are not acceptable to you, it is worth reviewing the mortgage market and discussing with mortgage brokers your remortgage options. 

Take local mortgage advice

At Lonsdale Mortgages, we recommend you review the mortgage market a few months before your mortgage deal is up for renewal. As many lenders will honour their mortgage deals for up to six months giving you the certainty of a mortgage deal even if interest rates rise.  Our mortgage brokers can give you expert mortgage advice, saving you time and money. Lonsdale mortgage brokers can review the mortgage market quickly and as we compare products from a variety of lenders, we can tell you if there is a better remortgage deal than your current lender offer. 

Our St Albans, Lichfield and Chippenham mortgage advisors have expertise working with homeowners who wish to remortgage. We also offer professional mortgage advice for first time buyers; anyone moving home and buy to let investors. 

Amy Kadir, Lonsdale Mortgages Broker in St Albans, Hertfordshire said: 

‘Our Lonsdale Mortgages broking team recommend that if you are due to remortgage in 2022 or 2023 you contact us at least six months before your mortgage deal comes up for renewal so we can give you personalised mortgage advice.  This gives us the time to find the best mortgage deal for you, depending on your financial circumstances and attitude to risk. We ensure your mortgage product is the most suitable for your personal circumstances by comparing it to others available on the mortgage market. This is very important given the cost-of-living crisis, as for most of us our mortgage payment is our largest monthly cost. If you don’t remortgage, you will normally continue with your current lender’s standard variable rate once your mortgage deal ends. The mortgage rates you pay are important, but you should also consider choosing a reputable lender for excellent service.’

In Summary

If you are due to remortgage this year, please give our mortgage broking team a call on 01727 845500.   Alternatively, you can complete a booking consultation form on our website for our St Albans, Lichfield, or Chippenham office, and one of our local mortgage brokers will call you back. 

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up the mortgage repayments.  The information contained in within this article is for guidance only and does not constitute advice which should be sought before taking any action or inaction. The Financial Conduct Authority do not regulate some forms of buy to let mortgages.

 

 

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