There was a time not so long ago when most people signed up to a mortgage and remained with that provider for the duration of the contract. For the next quarter of a century in most cases, they would put up with the plus and minus points of their loan and simply meet their monthly payments until it came to an end. If there was a better deal on the market, the chances are they wouldn’t even hear about it.
Thankfully, those days are long gone. The current mortgage market is an extremely active one, with more and more lenders doing all they can to entice borrowers away from their existing providers. This might not be good news for lenders, of course, but for the consumer it’s wonderful. We’ve become increasingly adept at switching insurance providers on a regular basis, so why shouldn’t you do the same with your mortgage?
And it’s worth remembering that there’s more to the market than the traditional high street banks and building societies. A growing number of web-based lenders are vying for your custom now, some of which are perhaps more niche than you might have realised. Somewhere out there, there’s likely to be a mortgage that ticks all of your boxes, so it makes sense to shop around for the best deals on a regular basis.
It’s a good strategy for most borrowers, but not all of them, however. If you’re fixed in to a good rate, or you have to pay a sizable early release fee, you’re probably better off remaining right where you are. If you’re free to move, however, it’s at least worth having a look at what’s available. And if you’re not sure where to look, a quick call to the team at DJC Wealth Management could be all you need.
Even if you had a little look a year ago, it’s still worth keeping a close eye on developments. New deals are becoming available all the time, so the situation might have changed dramatically in the meantime. With interest rates on the competitive side at the moment, an attractive, affordable new deal could be just around the corner.
The most suitable deals for you will depend on a number of variables, of course, but with experienced specialists on your side you’ll be able to make an informed decision that could potentially save you a significant sum of money. It’s important to remember as well that you can search the web yourself for a change of mortgage but there could be excellent opportunities that you simply won’t be able to find.
If you’ve become used to the concept of reviewing insurance policies for your home, your car and your medical care on an annual basis, you’ll already be aware of how much money you can save. Adding the mortgage to that process is so easy to do, especially if you only have to call DJC Wealth Management to start the process.
To find out if our team can find you an excellent mortgage solution, all you need to do is call 07449 632 927. We hope you’ll be in touch very soon.