Need to remortgage but left it until the last minute?
Tuesday 19 December, 2023
With interest rates higher than they have been for 15 years, you may be worried about the impact this will have on your monthly mortgage payments once your current mortgage deal expires.
There is no doubt it can feel overwhelming for homeowners at a time when it’s hard to turn on the news without hearing about increased interest rates, increased living costs and ever-changing mortgage rates. If you don’t know which way to turn and you’ve left remortgaging until the last minute - don’t panic!
Before you hit the panic button, talk to your mortgage adviser
It’s important to look beyond these headlines and don’t assume that the worst-case scenario will necessarily apply to you. Talking to an adviser as soon as you can is crucial to avoid rushing and potentially ending up with a less favourable deal.
If you haven’t got a new deal in place when your fixed rate mortgage ends, your lender will put you onto their standard variable rate, which tends to be higher than the rates on most other mortgage options. So it pays to get the right mortgage for you in place.
We will assess all of your options, advise you on which is most suitable and support you throughout the application process. We can search an extensive panel of lenders for you, finding deals and options that you may not have even considered. We're ideally placed to check what your current lender will offer you and what you could get elsewhere.
Worried you won’t qualify for a remortgage?
Gulay Dugunyurdu, Mortgage Broker Adviser in Enfield, North London said:
“Everyone’s circumstances change over time! Don’t worry if you’ve had a credit blip, you’re earning less or your property has dropped in value, because that doesn’t mean you’re automatically stuck for choice. Your options are out there, and with an experienced adviser at your side, you’ll be able to find them.”
Our expert advice will make your mortgage search and application process pain-free, so don’t panic that you’ve left it until the last minute, speak to us today.
By seeking advice from a mortgage adviser now, you could get the right deal for you sooner. Call Thomas Oliver Mortgage Advisers on 01707 872 000 or drop us an email on enquiries@thomasoliveruk.co.uk.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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