REMORTGAGE AND SAVE MONEY

December 7, 2017 by in category Mortgage News with 0 and 0

According to analysis from Habito. if you remortgage today to a fixed rate product before December their monthly mortgage payment could effectively make Christmas day free for borrowers on a Standard Variable Rate (SVR),
they have estimated that Christmas costs an average of £812 per family, and the average customer who carries out a remortgage from a SVR to a fixed rate saves £264.54 on their remortgage per month. Just in the first month, that would cover the costs of a Christmas tree and decorations (£45), travel to see family and friends (£80) and Christmas dinner (£136).
It is suggested that there are estimated to be 4 million households in the UK lingering on their lenders (typically more expensive) Standard Variable Rate, after their initial rate of two, three or 5-years has expired. Since the Bank of England’s November 2 rate rise, the cost of not doing a remortgage has gone up a further 0.25% or an additional £20 a month on average, per household.
They say that no one should be left paying over the odds on their mortgage, especially at Christmas time when household budgets are under even more pressure than usual. Technology has finally come to the remortgage industry to make doing a remortgage as easy and commonplace as switching your utilities or broadband. As well as a festive bonus, a remortgage can really be the gift that keeps on giving – allowing you to save money each month, adding up to thousands of pounds saved over the course of a year.

London Mortgage Advice Ltd is authorized and regulated by the Financial Conduct Authority for residential mortgages and non investment insurance business.

Although London Mortgage Advice Ltd is regulated by FCA, commercial mortgages and most buy-to-let and offshore mortgages are not regulated by the FCA.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

London Mortgage Advice ©2015