remortgage your home

One in Seven Homeowners Have Never Switched Their Mortgage!

How alarming is this headline? That means that one in seven homeowners, a massive 14% could have their mortgage, typically their biggest financial monthly outgoing on the Standard Variable Rate (SVR). When they could be saving a lot of money – as the current mortgage rates are very competitive.

Why are so many just sitting on the SVR – mainly I would suggest that they just don’t realise and it’s something they keep meaning to look at, and then well – life gets in the way! Ignorance is not a reasonable excuse!

Research by Boon Brokers found that:

For those who had previously changed their home loan, many hadn’t done so for a significant length of time.

One in 10 (9%) said it had been over 10 years since they last changed their mortgage and a further 13% said it had been more than five years.

This is despite only one in four (24%) believing they are tied into their current mortgage deal.

12% of mortgages are with the company the borrower banks with – which is often unlikely to be the best deal available.

This figure was highest in the 45-64 age range, at 16% of homeowners. 

What about you?  Do you know what your mortgage rate is?

You probably / hopefully know how much it costs you each month – but when was the last time you checked?

It may be because you’ve forgotten, haven’t got around to it, it’s on your to do list – along with so many others. It’s home admin and the day job is exhausting you just can’t bear the thought of more admin / staring into your computer at the end of a long day.

Or a combination of all of the above?

Let’s take a look together… now, I can’t make any guarantees but I’m fairly confident that we could save you some money!

How does that sound?

If you’d like to have a chat and review your mortgage and see whether we can save you some money please get in touch…

Call me on 07969 859749 and let’s chat!

Rachel x

** Think carefully about securing a mortgage against your home. Your home may be repossessed if you fail to keep up with the mortgage payments

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