Should you make remortgaging your New Year’s resolution?

Tuesday 28 January, 2020

At Lonsdale Mortgages we recommend you always review the mortgage market when your mortgage deal is up for renewal. Call our Lonsdale Mortgages broking team now in St Albans on 01727 845500 and get expert mortgage advice.

Lonsdale mortgages do not typically charge a fee for their services

We don’t normally charge a fee for our services as we receive commission from the provider except in instances where we organise additional borrowing for a client with their existing lender, as some providers do not offer commission.

Lonsdale mortgages review the mortgage market for you saving you time and money 

Our mortgage brokers offer mortgage advice and can review the mortgage market quickly, to see if we can find you a better re-mortgage deal than your current lender is offering, and we don’t normally charge you for this service. 

Remember if you don’t remortgage you will normally go onto your current lender’s standard variable rate when your mortgage deal ends. The standard variable rate is normally much higher than the mortgage rate deals available to you in the market.

Take mortgage advice from a mortgage broker if you want to remortgage this year

January is a popular month to remortgage. According to data from UK finance 47,000 people remortgaged in January 2019 making it the busiest month for remortgages in the whole of 2019. Whether you are purchasing a new home or remortgaging there are currently many good mortgage deals available. Some lenders such as Barclays and Virgin Money have already reduced their rates on fixed rate mortgage deals. The interest rates paid on two year and five-year fixed rate mortgage deals are generally getting cheaper, and long-term fixes have seen the greatest rate reductions over 2019.

Should you choose a fixed rate mortgage deal when you remortgage? 

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

‘Our Lonsdale Mortgages broking team recommend that if you are due to remortgage in 2020 that you contact us at least three months before your mortgage deal comes up for renewal. It gives us plenty of time to review your financial circumstances and decide which mortgage product is best for you. We offer mortgage advice on fixed rate mortgages, variable rate mortgages, capped rate mortgages, tracker mortgages and discount rate mortgage products.’

Amy Kadir, member of Lonsdale Mortgages broking team St Albans, Hertfordshire continued:

‘the best mortgage deal for you depends on your financial circumstances and your attitude to risk. Fixed rate mortgage deals are normally suitable for anyone wanting long-term rate security and are chosen by customers who are unlikely to move home during the mortgage term. The mortgage rates you pay are very important, but you should also consider choosing a lender with a good reputation for excellent service. Call our mortgage broking team now on 01727 845500 and we can offer you mortgage and protection advice that is personal to you. We will liaise with your mortgage lender and solicitor when we arrange your mortgage which will save you time and enable you to organise your remortgage quickly.’

In summary

If you are due to remortgage before June 2020 give our mortgage broking team a call on 01727 845500. Alternatively complete a booking consultation form and we will provide you with personal mortgage advice to enable you to complete your remortgage on time this year.

 

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