NEW YEAR IN THE CAPITAL DISTRIBUTED WITH


23RD JANUARY 2025


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Top tips for remortgaging in today’s market


Persistent


inflation and increased


public borrowing continue to affect the UK mortgage market, driving up swap rates and gilt yields. Rising borrowing costs have heightened expectations that fixed-rate options may become more expensive in the coming months. With hundreds of homeowners nearing the end of their current mortgage deals, many are questioning how this will affect their future payments. Careful planning and a clear understanding of the market are essential to secure the best deal in today’s environment. Knight Frank Finance’s experts


have answered some top customer questions, to help you navigate these challenges effectively.


Why do I need a mortgage broker? Navigating the lending market can be a complex and stressful experi- ence. Mortgage brokers are there to take that stress away, offering expert guidance and access to exclu- sive deals tailored to your needs.


Knight Frank Finance works with over 200 lenders, enabling its experts to compare a wide range of options, saving you time and money.


What can I do if my current deal doesn’t end for another six months? Waiting until the last minute rarely pays with mortgages. Engaging with a broker months before your current deal ends allows you to explore options and prepare for market fluctuations. Lenders frequently introduce new products and adjust terms, but these require careful evaluation. Starting early ensures you’re ready to act when the time comes, avoiding unnecessary stress.


Should I stay with my lender or shop around? Your decision depends on your situ- ation. If your deal ends in three or four months and you prefer a quick switch, a product transfer with your current lender might work well. Tis


seamless process requires no paper- work or affordability checks but may limit changes to your mortgage terms, such as extending the term or opting for interest-only repayments. For greater flexibility or competi- tive rates, remortgaging with a new lender could be a better choice.


Do I really need protection insurance, and what should I consider? It’s easy to question the need for insurance, but unexpected events — illness, injury or loss of life — can cause serious financial strain. Protection ensures you and your loved ones aren’t left struggling. Whether it’s replacing lost income, covering medical costs or securing your family’s future, the right cover provides peace of mind. Knight


Frank Finance creates


tailored solutions based on indi- vidual needs. Some may need a blend of income protection, critical illness cover and life insurance, while others require a simpler, cost-effec- tive policy. Whatever your circum- stances, Knight Frank Finance ensures you have the right protec- tion when it matters most.


Is there anything else to bear in mind? Various financing solutions can meet different needs, so explore your options early. For high-net-worth individuals, secured overdrafts are being used as a flexible alternative to mortgages, offering instant liquidity without monthly repayments unless drawn upon. Elsewhere, the team has been helping customers who are looking to make substantial gifts as part of their estate/Inheritance Tax


(IHT) planning. Whether protecting a gift during the Potential Exempt Transfer window or setting up a policy


protect future generations, KFF are


to payout into trust and


here to work in tandem with your financial advisor to find the best insurance solution that supports your estate planning goals.


E: mortgages@knightfrankfinance.com T: +44 20 7861 1544, knightfrankfinance.co.uk


Disclaimer: The choice of interest rate and product terms will depend on your circumstances and the amount of the mortgage. Before you make a mortgage application, we will carry out a full review to establish your needs and preferences and if you meet the criteria, we will give advice and make a recommendation to you. We do charge a fee for mortgage advice. All mortgages are subject to status. Please note that all products show an indicative rate only and may not be suitable for you. You must be 18 or over.


Your home may be repossessed if you do not keep up with mortgage payments.


Knight Frank Finance LLP is a limited liability partnership registered in England and Wales with registered number OC322399. The principal office of Knight Frank Finance LLP is situated at 55 Baker Street, London W1U 8AN. Knight Frank Finance LLP is authorised and regulated by the Financial Conduct Authority under Financial Services Register number 459093.


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