The first question that you might ask is how many different types of mortgages are actually out there for customers?
You’ll find that there are a wide variety of different mortgages that are available to prospective home buyers. Each of these mortgages have their own unique advantages or disadvantages to taking them.
In this article, we will take a look at tracker mortgages and why they might potentially be the best mortgage option for you and your personal circumstances.
Always remember that a mortgage deal will only be as good the circumstances that it is matched up against.
To use this in an example, you may find yourself signed up onto a tracker mortgage, only to later decide that you would rather have fixed monthly mortgage payments. Unfortunately at this point, you are locked into a deal and cannot switch out of it.
As an open & honest mortgage broker in Sunderland, we will always highly suggest that you do some of your own research prior to this, or alternatively take mortgage advice in Sunderland.
A mortgage advisor in Sunderland will be able to make sure that you are at least on the most appropriate mortgage deal for your personal and financial circumstances.
If you would prefer to have a look at our YouTube video, you are more than welcome to hop on over to our MoneymanTV channel and watch “What is a Tracker Mortgage?“. Alternatively you can view it below:
So the question on your mind is likely, what actually is a tracker mortgage?
Well, if you are signed onto a contract with a tracker mortgage, your interest rate will run alongside the Bank of England’s base rate, with the lender typically adding a percentage on top of it.
Your lender will not be determining the rate that gets added, as it is an external rate that must be strictly followed.
For example, if the base rate of the Bank of England was around 1% and your mortgage lender adds on another 1%. You’re now running at a 2% interest rate.
The percentage will always be a little bit above the base rate set by the Bank of England.
A tracker mortgage works out really well for customers if the Bank of England’s rate is running a little low at the time of application.
Generally speaking the base rate will sit somewhere around 0-1%, though it will rise and drop down again throughout the course of the year.
Back during the unfortunate era that was the credit crunch in 2007/08, the mortgage market completely crashed, which caused the interest rate to skyrocket. The highest we ever saw it go up to was somewhere around 5%.
Bearing in mind that you’ll also have the percentage that your lender will add on top of this, and you could’ve added 6% interest onto your recurring mortgage payments.
On the flip side to this, during March 2020, the mortgage market went through another tough time, this time because of the impact of COVID-19. The opposite happened this time, as here the Bank of England’s rate decreased massively, dropping all the way down to 0.1%.
If you were on a tracker mortgage throughout this period of time, the chances are that you were sitting comfortably on a 1.1% interest rate.
As you might expect for something so good to be true, during this period, new customers couldn’t pick up a tracker mortgage. The reality is, lenders are in the business of making profit, not losing it.
At this moment of writing, we’re just heading towards the end of the Coronavirus, and it is admittedly still difficult to obtain a tracker mortgage.
Taking out a tracker mortgage has both pros and cons. These types of mortgage rely heavily on the economy, so if the market isn’t performing at it’s best and the Bank of England’s rate is high, a tracker mortgage probably isn’t your best option.
Again, by completely flipping the situation, if the economy is performing outstandingly well with the Bank of England’s rate at a lower amount, a tracker mortgage may be one of the better mortgage options for you to take.
No matter your mortgage scenario, there are such a wide array of different mortgages that are available to you in Sunderland, it’s just about working with a mortgage advisor in Sunderland to find you the right one.
Before you go ahead and dive into any deals, it is highly recommended for your own benefit to speak with a dedicated mortgage advisor in Sunderland about your possible mortgage options.
They will help you shop for different potential mortgage deals, working hard to find you the most competitive one for your personal circumstances.
If you are a first time buyer in Sunderland, our trusted and refined mortgage advice service will prove to be highly beneficial.
We have been working within the mortgage industry for a very long time, well over 20 years now and have a lot of industry knowledge on all the different types of mortgages, including those that benefit first time buyers the most.
This applies even if you are looking at your options to remortgage in Sunderland or if you are moving home in Sunderland, as we believe that you’ll genuinely benefit from using our invaluable mortgage advice service.
As an mortgage broker in Sunderland with a flood of knowledge and experience, we will work from beginning until end by your side, aiming to be a guiding light throughout your mortgage journey.
If you’ve been thinking about taking that step onto the property ladder, you may be wondering whether or not to use the assistance of a mortgage broker in Sunderland. We of course believe that our service is incredibly beneficial, especially for first-time buyers in Sunderland.
Despite this, we felt it appropriate to give a balanced overview of the pros and cons of coming to a mortgage broker in Sunderland, compared to direct to a mortgage lender.
People tend to think that they are more likely to save money by not using the services of a mortgage broker. It can seem a lot more cost-effective to just do everything by yourself.
With that in mind, you may be one of those who prefer going directly to the high street mortgage lender. Another reason why people used to prefer going to the bank directly, was that people felt their bank manager knew their finances inside and out, although this changed when credit scoring was brought into the mix.
There is also truth to the claim that some lenders have additional exclusive mortgage products only for the people who directly obtain a mortgage. The main intention behind such ideas is to attract customers away from the services of a mortgage broker.
Ultimately, it is a good way for them to spread the business. The interesting part is that it is arguably just as enticing to speak with a mortgage broker in Sunderland as well. You’ll find that some mortgage offers can only be obtained through a mortgage broker.
From 2014 onward, lenders were no longer able to sell mortgages to anyone on a non-advised basis. At that time, it was a common occurrence for non-advisors to forcefully advise their bank customers, meaning they’ll have had no benefits from consumer protection. Speaking to a professional mortgage advisor in Sunderland will allow those benefits.
It is also important to remember that taking an appointment with a bank can sometimes take months to try and get yourself booked in for. A mortgage broker in Sunderland is often able to get you booked in within the same week, usually within that same day.
These kinds of issues is why the importance of mortgage brokers has grown and changed the public perception over time. More and more applicants rely on the mortgage brokers than before for help with their mortgage process.
There is now a lot more trust for the mortgage brokers in Sunderland, who are typically able to offer their mortgage advice services within the same day. Our dedicated team are always ready to help you, so Get in Touch and we will put you with an experienced mortgage advisor in Sunderland, as soon as possible.
You might be wondering what exactly causes some of the mortgage applications to be more difficult than many applicants expect them to be. Here are some of examples of this:
In years gone by, it was a lot easier for mortgage lenders to get ahead of their other competitors by laying out more enticing offers than the others have. Times have changed and it’s now more than the deals, it’s the criteria, that differentiates between the lenders.
To make everything easier for you, you should speak with an experienced mortgage broker in Sunderland and see if they have come across a similar situation in the past or not, as they may be able to utilise their knowledge from that to help you through yours.
After undertaking lots research and working very hard, a dedicated mortgage broker will hopefully be able to guide you through your journey and be able to recommend the most suitable mortgage for your personal circumstances.
Even if your mortgage application seems rather simple, it may still be beneficial to use the services of an experienced and knowledgeable mortgage broker, as we will work hard to get the best deal we can for you.
We have a professional and trusted mortgage advice team that will be able to provide guidance on other services such as solicitors. By getting in touch with us, you will also be updated you about the surveys and protection information that will be available to you.
A key feature of our service that we love to shout about, is how we’re more quicker and responsive compared to the other mortgage brokers.
One of the biggest reasons why customers tend to require help, is that everyone nowadays is very busy and needs someone to take the weight off their shoulders, doing the hard work for them.
Our dedicated and loyal mortgage advisors in Sunderland will do everything they can to make sure the process goes smoothly for you.
If you are ready to chat with a dedicated advisor about your mortgage plans, please Get in Touch with a mortgage broker in Sunderland. We are available from early until late, all throughout the week, to help you find the perfect mortgage deal.
On an overall basis, the mortgage process can often come across as quite surprising and applicants can expect to experience their fair share of both ups and downs. Some applicants may receive a quick and easy process whereas others may find it a lot more challenging trying to reach mortgage completion.
Regardless, once you have secured your first property, moved in and lived there for almost the entirety of your term, you will eventually reach a point where you have to make some choices from which path to take next. First of all, you could have the option to sell your current home and move into a new home.
Alternatively, if you feel like you’ve already found the home you want to stay in for the rest of your life, you may look to remortgage for home improvements. Common choices for this include to fund either an extension or conversion.
In this article, we are going to take a look on remortgaging and the various reasons why people may look to take out a remortgage in Sunderland.
A remortgage is where you take out a new mortgage to pay off the mortgage you already have. There are lots of different options to choose from at the point of remortgage, it’s entirely your choice.
As a general rule of thumb, you will take out a remortgage each time you reach the end of your fixed mortgage term. If you opt to not take out a remortgage, you may find that you possibly fall straight onto your lender’s standard variable rate of interest, which will probably be more costly than the rate you’re currently on.
The mortgage deal that you’re on initially will likely last for near 2-5 years. As touched upon previously, if you don’t remortgage, you will move onto your lender’s SVR.
Sometimes, their own rates can be higher than that of a tracker mortgages (track the Bank of England’s base rate), so in the long run this could cost you more than you would otherwise need to pay.
If your mortgage term ends, you may also find yourself falling onto a tracker mortgage. The interest rates of a tracker mortgage will go up and down depending on how the current United Kingdom economy is performing.
As an example of this, during the coronavirus pandemic (March 2020), the Bank of England’s interest rate was much lower than it usually is, as the economy wasn’t performing at it’s best. Over time, the economy recovered, causing the interest rates to rise once again.
It’s reasons like this why people often remortgage to find themselves a much better interest rate. Homeowners look to find themselves a better interest rate in a bid to lower their monthly mortgage repayments.
Rather than moving home in Sunderland, a lot of homeowners look to make modifications to their existing home, so that they can create more space through either a home extension or loft/room conversion. Some will also remortgage to fund other smaller home improvements such as doing up the kitchen or living room.
The way that this process will work, is when you take out a new mortgage product, the costs for any home improvements will be incorporated into your mortgage. This means that your monthly payments and mortgage term will likely increase.
If you already are wholly fond of the house that you have, making improvements over moving could save you a lot of money. It can potentially be easier, less stressy and provide more benefits in doing so, that the stress and cost of moving home.
As a long standing mortgage broker in Sunderland, we’ve regularly seen mortgage applicants that have realised further down the line that they would prefer a different product, however, they are already mid-way through their existing term.
It might just be that they are wanting a more flexible product that will allow them to reduce their mortgage term. Though this could mean a monthly mortgage payment increase, it could mean their mortgage term will decrease.
A flexible mortgage could give you the option to overpay your mortgage payments do that you can pay it off quicker. Usually, people choose to remortgage if they’ve maybe had a pay increase or been given a large lump sum of money, i.e., through being made redundant at work.
Some people may even want to keep the same monthly payments and still stay on their current base rate. When this is the case, you may have the option to remortgage for a term extension.
As a homeowner, it is likely you will have some equity built up inside of your home. You can turn this equity into cash, which is why people often remortgage to release equity.
The amount of equity that will be in your home can be calculated by taking away the remaining amount on the mortgage from the value of the property. A portion of the amount that is remaining can be taken out and used for whatever you’d like (within reason).
It’s up to you what you spend this money on. As mentioned, some use it for home improvements, others use it for a deposit for another property (common with buy to let landlords) and some use it for paying off car loans or taking a holiday. It’s entirely your choice.
You can also release equity through taking out a lifetime mortgage. This is often targeted at older homeowners who are looking to release some extra funding for their living circumstances.
Firstly, debt consolidation is considered a very specialist subject, so we would highly suggest that you speak with a mortgage advisor in Sunderland before making any sudden decisions.
Consolidating debts means you will be incorporating unsecured debt into your mortgage. Doing this will increase your mortgage payments and can also increase your mortgage term too.
All lenders have a different perspective when it comes to consolidating debts into a mortgage. Some lenders are fine with it and some don’t have it as an option. Lenders often don’t allow it, as you are placing existing unsecured debt into a secured asset.
This means that if for one reason or another you can’t meet your mortgage payments and start to accrue any debt, your property is repossessed. In doing this, the lender will lose out on money as the debt you have is now secured within the property.
The subject can be quite difficult and is something that you should get specialist help for. For debt consolidation and remortgage advice in Sunderland, you should contact our excellent mortgage team, taking advantage of the free mortgage appointment we offer.
Having now read about the various reasons why people may look to remortgage and how they work, maybe you think it’s time to start looking at arranging your remortgage?
Whether you’re looking to remortgage for better rates, for home improvements, for a more flexible term, to release equity, to consolidate your debts into your mortgage or for something else we haven’t mentioned here, one of our dedicated mortgage advisors in Sunderland will have likely had experience in helping someone remortgage for that reason before.
If you would like to have a chat with a remortgage advisor in Sunderland about remortgaging your property, feel free to give us a call and speak to a member of our team. We will be more than happy to try and help you through the remortgage process and get back to life as normal.
To be able to recommend the most appropriate mortgage for you based on the circumstances you’re currently in, it is of vital importance that our mortgage advisors gain a complete understanding of your financial situation. As a mortgage broker in Sunderland, the primary way we believe this can be achieved is by obtaining an up to date copy of your credit report.
We personally would highly recommend using Check My File to do this, as they are able to bring in your data from 4 different credit reference agencies, giving you a more accurate and detailed look at your personal credit profile. It’s especially handy, as in some instances, the data that is held by one agency, may differ to the data from another.
When it comes to sending your credit report by email, the steps necessary will be a bit different depending on what device and email client you are using, e.g., Android, iPhone or Desktop & Gmail, Hotmail or Yahoo, etc.
A member of our dedicated mortgage advice team in Sunderland will review your credit report, before they give you a call to discuss your mortgage plans in further detail.
As a mortgage broker in Sunderland with lots of experience across the industry, we have in-depth knowledge of lenders various criteria. Some of the lenders we work with are specialist lenders. Please take a look at our specialist mortgage advice in Sunderland page for more information on complex cases.
No matter if you are a first time buyer in Sunderland or looking to move home in Sunderland, we will use our knowledge and the information displayed in your credit report to work hard in finding the most appropriate mortgage deal for needs and personal circumstances.
Unsecured credit and consolidation are not things to be taken lightly. We recommend you contact us and speak to one of our experienced Mortgage Advisor in Sunderland and review all possible options before finalising the process.
When looking at the bigger picture, you will usually pay back more by integrating unused credit into your mortgage. Although your monthly payments will most likely be lower, and this is the main aim for most people.
It is essential to realize that you are also taking the risk of securing debt against your home. If payments are not kept up to speed. Then you’re putting yourself in the situation where your home will be repossessed. It is not the same scenario as just missing payments on loans or credit cards.
For many years, obtaining credit has sometimes been too easy as it is much faster for people to borrow money than save up. But it is a tough situation because while some people have invested Home Improvements in Sunderland. Which will be raising the value of their property, the debt which they have obtained will be still accumulating interest. Not everyone can qualify for zero percent credit card transfers.
Before consolidating credit it is wise to do a budget planner to help you see where your money is going each month. There may be some luxuries that can benefit you in the long run. If you put aside for a while, such as takeaways and expensive coffees.
A personal loan could be an answer to consolidate your credit. A loan will at least have a set end date unlike credit cards, and due to a personal loan typically being taken out over a shorter period would mean that you pay back less interest.
Family members would also be worth speaking to as an alternative option. This can be an embarrassing predicament for someone to reach out and ask for help with financial issues but is often one of the more comfortable options.
If these options have already been utilized that a debt consolidation mortgage may be the right way to go. With it being a way for you to reduce your monthly payments if you are struggling to save.
The relaxation of lockdown has begun, although things are going to be a very different place for a long time. During the lockdown, we know for a fact that mortgage applications got held up. However, things are taking a positive turn, and we see some fantastic mortgage/ remortgage deals. Interest rates have never been this low in over 20 years.
Whether you are a first time buyer in Sunderland who was in the process of starting a mortgage or a current homeowner hallway through moving home in Sunderland, now is the perfect time to bring you guys up to speed.
The Government has announced new guidelines in regards to the property market to get it functioning again as we gradually come out of lockdown. This is positive news.
To summarise this week’s position:
We would like to point out that all of the above relaxations are subject to additional specific health and safety guidelines and social distancing.
In terms of mortgages at the moment:
We understand that things take time, we’re a long way before everything can get back to ‘normal,’ but rest assured you’re in a great opportunity if you are currently looking for a mortgage/ remortgage deal. Our Mortgage Advisors in Sunderland can help search thousands of deals tailored to your financial circumstances.
Here at Sunderlandmoneyman we are seeing more customers interested in Remortgage for Home Improvements in Sunderland. They realise that it is easy to sort out and may increase your monthly mortgage payments by £100 – £200, this mainly applies to homeowners wanting to start a family or expand their current one.
Once you got in touch and got a few details from you, you will get put through to one of our fantastic Mortgage Advisors in Sunderland, who will provide nothing but help and support throughout the whole of the mortgage progress. Our goal is to find you an excellent mortgage deal!
Some point if your lives your current mortgage deal is coming to an end, or you’re in need to borrow some extra money?
Then you should consider to Remortgage in Sunderland, too many people make the same mistake leaving it far too late and end up lapsing into their Lender’s Standard Variable Rate. If this has happened to you, chances are you are paying way more than you need to be doing on your mortgage payments each month.
Relying on your current Lender offering you a new deal, you will be missing out on potentially lower rates elsewhere. Lenders love it when customers don’t shop around! They do not reward loyalty as a rule. They even offer better deals to new customers than their existing borrowers.
If you switch online without speaking to someone, this is an Execution Only mortgage. That means you do not benefit from the consumer protection you would have got by taking advice. Again, Lenders love this because if it turns out, you received the wrong product, you have no grounds to complain since you picked it yourself. I have always felt that customers should always seek advice when their remortgage is due.
Some customers are still on low rate tracker deals that they have had for years and years. Even so, it’s always worth having a look to see what is out there, especially if you are concerned that interest rates might go up if you feel like that you can always take out a Fixed Rate Remortgage.
If you feel your home would benefit from some upgrading, then it is possible to Remortgage in Sunderland for Home Improvements. Investing in your home can be an excellent investment. Some improvements, such as extensions or loft conversions, can put a value on your home. Kitchens and bathrooms can look tired after a few years, and you can increase your mortgage to pay for cosmetic alterations as well as structural work.
If the amount you need to borrow is significant, then the Lender will reserve the right to ask you for estimates for the works you intend to have carried out. You don’t necessarily have to use the Contractor that provided the view to do the actual tasks.
Some people borrow for Home Improvements even if they know their home may not go up in value. If you have decided you are already in your “forever home,” and if you can afford it, there’s nothing wrong with borrowing for this purpose at all.
You can borrow extra funds for most legal purposes, examples of this would be:
You can raise capital on your property when you remortgage in Sunderland for almost any legitimate reason. It could be for large consumer purchases, gifts to help family members, to purchase a Buy to Let property or for Debt Consolidation.
Remember, you will pay interest on a Remortgage for many years usually, so it’s essential you borrow for the right reasons.
When you add unsecured debt to your mortgage, you may end up paying back more interest overall, and a mortgage term tends to be much longer than that of a personal loan (although it doesn’t have to be).
That doesn’t sit comfortably with everyone as you are under the risk of repossession if you cannot afford your mortgage in the future.
You will need to know the interest rates that apply to the debts that you are considering rolling into your mortgage. If you have 0% credit cards, then adding these to your mortgage will start attracting interest.
You should consider all options before deciding to consolidate debts, such as asking family members for assistance if possible and reducing as much non-essential expenditure as possible.
Once you have considered all the above and decided a Debt Consolidation Remortgage advice in Sunderland could be right for you, then it’s vital you speak with a Mortgage Advisor in. The Advisor will take responsibility for the recommended remortgage and help you with your application.
Often, consolidating debts into your mortgage leads to a reduction in your monthly outgoing. Some customers end up reducing their payments by hundreds of pounds.
COVID-19 has profoundly impacted the mortgage market, but that hasn’t stopped us from providing the same excellent Mortgage Advice service you are so accustomed to, at Sunderlandmoneyman, we are still working exactly how we were before the outbreak of the coronavirus.
We still have hardworking Mortgage Advisors working remotely from home still available to answer all of your mortgage questions. Our number one focus is for our customers to have a Mortgage Advisor in Sunderland to talk to if they are having worries about their mortgage.
You may be questioning your ability to meet your Monthly Mortgage Payments in Sunderlands, or you may be coming up to the end of your mortgage deal and are looking for a great Remortgage deal in Sunderland.
We have found that these two situations keep coming about, and all we can ask you is not to panic. As your local Mortgage Broker in Sunderland, we would always recommend speaking to one of our advisors first before going directly to your bank/lender.
We can assess your personal and financial situation then recommend you with the best route to take, and we will try our best to help anyone who comes to us for help with their mortgage during these few hard months. We’re all in this together, get in touch now and speak to one of our trusted Mortgage Advisors in Sunderland today.
We are still tackling lots of different mortgage situations every day, and business is as usual. Nothing is going to get in our way that could prevent you from receiving expert help from your local Mortgage Broker in Sunderland.
We have still been receiving excellent customer reviews over the last few weeks, hearing back from your customers is the best thing about being a local Mortgage Broker in Sunderland.
We love seeing happy customers walk into a new home with a perfect deal! Here is what a couple of customers have recently said about our service here at Sunderlandmoneyman:
From start to finish, the service was great. Everything was explained clearly, every little adjustment and query I asked for was expertly dealt with by Leo, who gave me new info and examples of our mortgage requests. The process was very easy to complete online which was very convenient given we both work during the day and didn’t have to take time off.Anna H
Very quick response from the first time I contacted them. Both Cathy and Leanne were great at keeping us informed throughout the process and always responded to our emails within a couple of hours, often less. They understood the stresses and challenges that applying for a mortgage brings so were very understanding with our questions!Trusted Customer
We are letting nothing get in our way, especially the outbreak of COVID-19, we are still here to help you with all of your mortgage problems. We can’t leave you confused and concerned about what could happen to your mortgage, it’s our job to try and get over these hurdles with you and give you expert local Mortgage Advice in Sunderland to help you get through the mortgage process with ease.
Remember, we are still available 8am – 10pm, 7 days a week to answer all of your mortgage questions. From everyone at Sunderlandmoneyman, we hope that you are all keeping safe, and we can’t wait to hear from you.
During the lockdown, more people have had to adapt to working from home, some managing to cope better than others, weighing the pros and cons. Some are turning their kitchen, living room, or even a bedroom into a temporary home office during lockdown.
A vast majority were already working from home, and some businesses would instead their employees work from the comfort of their home instead of going back and forth to the office, saving you a lot on travel expenses, saving you much money.
One of the most popular home improvements people carry out these days is converting a room or indeed garage for a Home Office. There are numerous advantages to working from home, although obviously it doesn’t work for everyone.
Sometimes people move house in order to achieve their goals in terms of a better living environment which is fair enough but there are sometimes options to better utilize another area of your current property.
Especially now that we live in a technological age, consider getting a Remortgage in Sunderland for additional funds for home improvements to convert a room or perhaps a garage to a home office.
Assuming an interest rate of 2% is possible over 25 years it might cost you:
That’s probably not a lot more than you are paying right now and it can make sense for a lot of people to “improve not move”, especially when you consider the aggravation and cost of buying a new home.
Many factors will affect how much you will have to pay back per month and how much you can borrow overhaul. It is down to the specification of the home improvement, such as the size of the extension.
You will also need to consider that to remortgage, and you will have to go through another affordability assessment, even if you switch deal through the same lender.
As previously mentioned, the rates have never been lower, now is the best time to look for a remortgage deal to switch.
Your lender could likely extend the time frame of your remortgage process. Meaning your home improvement could start 6-9 months.
As Remortgage Advisor in Sunderland, we have always recommended that you speak to a local Mortgage Broker in Sunderland like us. We will search through thousands of remortgage deals and pick out the perfect one for you and your situation.
We understand that time is tight at the moment; having a team of friendly Mortgage Advisor in Sunderland by your side could make the process simple, saving you time and money.
We offer all our new or existing customers a free Mortgage Consultation. Contact us today to book your free remortgage consultation in Sunderland & see how we can help you.
Needs for offset mortgages have dropped since the 1990s. Although they’re still a great option for customers who are able to put something aside each month. They’re also good if you think you may receive a lump sum soon.
When you take out an offset mortgage, the lender will give you a savings account to go along with it, solely for the purpose of the mortgage. Rather than attracting interest, the money offsets against your mortgage balance. For example, if your mortgage is worth £100,000 and you have £18,000 in savings, then you pay interest on the remaining £82,000.
It’s a smart move if you are due a lump sum for any reason, such as future inheritance. As you can store your money until you are ready to decide what to do with it due to it being interest-free. This can apply to any annual or quarterly bonuses from your job that you don’t rely on.
An offset is an excellent opportunity for a First Time Buyer in Sunderland who want to overpay on their mortgage. Overpaying can reduce your mortgage payments for your next term. Leading to a reduction on your interest rates too, with other mortgage types. The money you put in cannot be taken out again until the end of your term. Which can be less than ideal if you change your mind or need to take some of it out early.
This is where Offsets are handy, you have a savings account, you can take out the funds at any time. Then put them back in when you’re ready. If you’re looking to make additional payments on your mortgage over time. We’d highly recommend taking advantage of the Offset savings account as you go.
Make sure to consider all your options when speaking to a Mortgage Advisor in Sunderland. Some consumers who like Offset Mortgages tend to keep these types of mortgages going and therefore, don’t tend to remortgage. Your advisor should be able to show you the impact of how an Offset can save you money over the course of the full term.
If you have any questions or require any help regarding Offset Mortgages or wanting to Remortgage in Sunderland. Then get in touch with one of our friendly Mortgage Advisors in Sunderland. We will be happy to help discuss the topic further.