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Why pay more?

Friday, 29 September, 2017

Why are so many of us paying over the odds every month on our mortgage payments when you wouldn’t dream of doing that on your mobile phone contract, your satellite tv provider let alone your electricity, home broadband or your heating bills.

PPI claims appeal to everyone as we all think you can get a big pay out from a financial institution but the real money can be saved each month by many who are not sure how or where to go to review their mortgage rate.

An increase in rates of 0.25% is around the corner and will happen it is just a question of when. But it is getting closer that is for sure. The price of everything else is going up it feels like so do you think mortgage rates won’t?

Two year fixed rates are at or near to record low levels. But if you are not planning to move in 2 years a longer rate makes more sense because in 2 years’ times a rate below 2% is going to be difficult if not impossible to get. 5 year fixed rates or a good in between play and will stabilise your monthly payments for a longer period and give you peace of mind.

The UK’s biggest mortgage lenders are hitting borrowers with an average £3,242 hike in annual interest repayments by dumping them onto their Standard Variable Rate, according to new research. When an introductory offer on a mortgage ends, borrowers are usually placed onto their lender’s Standard Variable Rate (SVR). This could be higher or lower than the initial introductory rate – but is typically much higher.

£3,242 better off each year? That is a PPI claim every year? What are you waiting for?

Get in touch with your local adviser from The Mortgage Shop today. We have 25 years’ experience in over 16 towns across the province or email us at info@themortgageshop.net

www.themortgageshop.net

 

IMPORTANT INFORMATION

Your home may be repossessed if you do not keep up repayments on your mortgage.

You may have to pay an early repayment charge to your existing lender if you remortgage.

Typically we do not charge a fee for mortgage advice, however if we do, depending on your circumstances, it will be a maximum of £250

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Important Information

Important Information

Your home may be repossessed if you do not keep up repayments on your mortgage.

Typically we do not charge a fee for mortgage advice, however if we do, depending on your circumstances, it will be a maximum of £250.

As with all insurance policies, conditions and exclusions will apply.

Disclosure

The Mortgage Shop (N.I) Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority Registered Office: The Mortgage Shop (N.I) Ltd, 132 Great Victoria Street, Belfast. BT2 7BG. Registered Company Number: NI26842. Registered in Northern Ireland.