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In March, amidst the worry and concern surrounding COVID-19 which had gripped the world as well as the nation, and as a measure to help soften any further blow the crisis may have, the Bank of England cut the bank rate to an all-time low of 0.1%.
This has been positive news for anyone looking to save money by remortgaging.
Due to the situation, we find ourselves in, some have been made redundant, had to sacrifice a number of working hours per week or been furloughed under the government scheme. It is these types of changes which may mean revaluating our financial circumstances.
And with mortgage payments the most likely largest outgoing each month, the opportunity to reduce this and taking advantage of the new all-time low interest rate is too good to miss out on!
It is very much business as usual where remortgaging is concerned so there are options open to you. We know, through experience, that some will wait until their current fixed rate deal is expiring before moving forward. You can switch many months before without incurring any early repayment charge. If you don’t take action, your lender will automatically switch you onto their Standard Variable Rate – this is usually a higher rate and an unnecessary expense you could easily avoid.
Speaking to an expert Mortgage and Protection Adviser means you can rest assured they will find the right deal for you. They will also be able to advise as to where you have any early repayment charges against your current mortgage – the answer to this will impact on how you move forward.
We have access to 1,000’s of mortgages with over 90 lenders and 12,000 products. Call us on 08454 500200 for tailored advice about how we can help you.
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances.
The fee is up to 1% but a typical fee is £595.
Kevin and Beccy have been extremely helpful - firstly in exploring viable options to suit my situation and secondly keeping me in the loop and dealing with queries that arose along the way. This is my second mortgage with them, both of which had possibly unusual elements and they were able to navigate me through them and find me good mortgages.
Thea EMy request to renew my existing mortgage with Mortgage Decisions was superbly handled by David who is a most knowledgeable person. I was impressed with his professionalism and his attention to detail. The end to end process was explained throughout by David in particular the various options available to me. This is the second time that Mortgage Decisions have assisted with my mortgage and I wouldn’t hesitate in asking them again in the future.
BarneyFantastic service from Mark on securing me a mortgage offer under my difficult circumstances, thanks for all the work and effort. A real asset to the business.
LR OToby was absolutely a knight in shining armour. Every step of the way he explained everything, he understood my situation and it felt like he was holding my hand through some turbulent times. I can't thank him enough.
Sarah JJack and Russell were absolutely amazing and helped me secure my first mortgage with no problems at all. As a first time and solo buyer it is all very daunting but they explained everything to me and I could trust that I was in good hands regarding the securing of my mortgage offer. Their communication was brilliant as I usually had a response to any questions within a day and my mortgage offer came through so fast. Thank you!
Chelsea W
