When your current mortgage deal comes to an end, you would normally move onto the lender's standard variable rate which means higher monthly payments, this can mean overpaying a considerable amount of money over time, which is not something that most people would want to do.
An average remortgage to a new lender can take anything from a few weeks to a few months to process depending on any complexities surrounding the application, therefore it is important to allow enough time for this and not to leave it until the last minute.
Staying with your existing lender is often the quickest and simplest way of recommitting to get a better interest rate than staying on the standard variable rate. However, by approaching a mortgage broker like ourselves at Balanced Financial Services, we can check with all lenders to see if there is a saving to be made by switching. If it is best to stay with the same lender, we will make this our recommendation, if it is better to move to a new lender, we will complete of all the research, complete the application on your behalf and liaise with the lender throughout the process.
Why not check to see when your current deal ends? If it is not too far away, give us a call for an initial chat to see how we can help.
Let us help you to save money!
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