Don't be 'mortgage lazy'!

How often do you review your mortgage deal? Is it the best on the market or has something better come along that you’re not aware of? If you qualify for a new offer, but you’re plodding along with your current one, you could end up paying hundreds or even thousands of pounds more than you need to.

By shopping around, you can almost always find something better so it makes sound financial sense to regularly review the situation – maybe once every 12 months but certainly at least once every two years. Being ‘mortgage lazy’ will eventually hurt your bank balance.

The fact is – particularly in the current climate – new deals are appearing all the time. Of course, if you’re locked in a discounted deal already and face an early repayment charge, it may not be worth your while. There are times when you must check for new deals – for instance when the interest rate changes. Obviously when your current deal expires, it is imperative you are aware of other options. It’s relatively painless to change your mortgage provider and as independent financial advisers we will be able to find you the best deal and take care of the administrative tasks. We might even be able to get a better deal from your existing lender!

If your property has increased in value during your fixed rate mortgage deal, you’ll be in an even stronger position than before. As your mortgage balance reduces it means you have more equity in your property and this means less risk to the lender. The lower risk to the lender the better the interest rates available.

With home visits and evening appointments available the whole process is so easy; Phil Anderson Financial Services do all the research and paperwork along with searching the whole mortgage market to get you the best deal.

To review your mortgage contact one of our offices -

Aberdeen - Tel: 01224 900879

Ellon - Tel: 01358 268166

Inverurie - Tel: 01467 625050

 

For Finance...Phone Phil

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Replies

  • Is that your new Inverurie office up and running now, Phil?
    • Yes we got the keys at the start of the month. Another exciting chapter in the Phil Anderson Financial Services journey. I have a new Director started to take over from myself as well so it's exciting times at the moment.
      • Exciting times indeed Phil Anderson #growth #business #local #journey
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