Remortgaging can also provide opportunities to:
l Bor row additional funds for home improvements or debt consolidation, subject to af fordability check s.
l Adjust your mor tgage term to shor ten or lengthen repayments.
l Change f rom one repayment type to another or select a mor tgage with greater f lexibility. .
The remor tgage market is highly competitive, and reviewing your options could lead to meaningful savings over the lifetime of your mortgage.
WHY PROFESSIONAL ADVICE MATTERS Choosing
between a product transfer and
remor tgaging is not simply about f inding the lowest interest rate. I t requires an understanding of how each option af fects your personal situation.
An adviser can help you compare the total cost of both routes, including fees, ear ly repayment charges, and product features. For example, a product with a lower rate might include high ar rangement fees, which could make it more expensive in the long run.
An adviser can also check whether your cur rent loan-to- value ratio means you qualify for a better rate elsewhere and assess how your f inancial goals, such as overpaying or bor rowing for home improvements, fit into your overall mor tgage strategy.
Mor tgage adviser s have access to a wide range of lender s and products that are not always available directly to consumer s. They are also regulated to ensure that
the advice you receive is suitable for your
ci rcumstances and that you fully under stand your options.
Tak ing advice can give you peace of mind, knowing that your decision has been made on the basis of a complete view of the mark et rather than a single lender’s offer.
WHAT YOU SHOULD DO NEXT
I f your mor tgage deal is due to f inish within the nex t six months, now is the ideal time to star t reviewing your options. Your adviser can assess whether your cur rent lender ’s product
whether remortgaging greater benef it.
transfer of fer is competitive or elsewhere would provide
By acting ear ly, you can avoid being moved onto your lender ’s standard var iable rate, which is of ten higher, and ensure you have the most appropriate mortgage in place before your existing deal ends.
A short discussion with an adviser is essential now as this could save you time, money, and uncer tainty later. May I wish you all a very Merry Christmas & a Happy New Year from myself & all the staff at Moneywatch Finance and Channel 4’s Grand Designs.
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For further information please contact Peter Hunt on: 0121 503 0961
www.moneywatchfinance.com
Peter is one of the panel experts for the Grand Designs live TV show and has been recognised in the Times Vouched For guide to the UK’s top rated financial advisers every year since 2019
LIVE24-SEVEN.COM
THE MIDLANDS PROPERTY GUIDE M O NE Y WAT CH F I NA NCE
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