In the current climate having access to sound professional advise has never been more key and by using a mortgage broker you can gain access to the whole of market if their licensing allows it. One Stop is a broker that offer you a ‘whole of market’ offering.
As you approach the end of your deal term reviewing your mortgage arrangements in a timely manner is a pre-requisite of good financial planning. These days we recommend reviewing your mortgage arrangements at least 6-7 months before the end of your deal so that we can weigh up the pros, and cons, of a customer retention deal over a full re-mortgage.
It may be viable to transfer to a more competitive product with the same lender. However, it may not be possible to transfer to a product with your existing lender, at the end of your fixed or discounted rate period, because you no longer fit their lending criteria due to changes in lending policy.
Re-mortgaging to a new lender will be one of the options available to consider. There are many reasons people decide to re-mortgage i.e. to secure a better rate or to release additional capital, plus many more.
Whatever your goals, re-mortgaging away from the lenders standard variable rate (SVR) will, in most cases, significantly reduce your monthly repayments or possibly be a more cost effective way to generate additional funds. In recent years re-mortgaging has become more popular as more borrowers have recognised the benefits and are more financially savvy.
At One Stop Finance we source the most competitive rate taking into account your circumstances, and the current market conditions, in the least possible time.