Is it time to check behind your toaster?
With a yuletide general election looming and a conclusion to the Brexit question looking as far away as it’s ever been, you could be forgiven for imagining that all the uncertainty in the UK would be having an adverse effect in the housing market. Whilst we have noticed a slowing of sale and purchase transactions towards the higher end of property values, this has not been the case across the board with some clients adopting a ‘life must go on’ attitude, still selling and buying as life events and a strive for progress demand.
This abundance of mortgage loan transactions may, in part, be fuelling what must be one of the most competitive mortgage loan markets I have seen in my time as a mortgage adviser. With some 2 year fixed rate deals now quite low we believe, it has never been a better time to look behind the toaster, dust down your mortgage statement, look at your current deal and seek the advice of an impartial mortgage adviser, to review your options both now and in the future.
Many lenders have finally got wise to client retention over the past 2 years, offering easy routes to securing new deals with the minimum of fuss. Be careful however – all that glitters is not gold. Whilst several lenders target their client database with very competitive deals, many do not, relying on client’s apathy and an aversion to paperwork, in order to up their profits. Again, an impartial mortgage adviser aims to help you pick your way through the plethora of deals on offer, working to save you money, be it with your current lender or a lower cost alternative.
In this time of relative austerity, make sure what is likely to be your biggest asset is working hardest for you, not the bank.
For further information and assistance, please contact Mark or Jonathan at Ethos on 01302 244977.
Note: As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments Publish date: 11th December 2019