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Monday 8 February 2021
Monday 8 February 2021
Monday 8 February 2021
Monday 8 February 2021
Are you looking to save as much money as possible on your mortgage? At Barrett Mortgages, we specialise in helping clients find the best remortgage deals tailored to their individual circumstances. By comparing products from a wide range of lenders across the market, we ensure you secure a product that works for you. From assessing how much you can remortgage for to guiding you through the process from enquiry to completion, we make the entire transaction smooth and hassle-free.
Why Consider Remortgaging?
According to a recent survey, 31% of people who rent or have a mortgage spend more than a third of their household income on payments. Even if your payments are below this threshold, securing a better mortgage deal can significantly improve your financial well-being and boost your personal wealth.
Mortgage lenders are always competing to attract new customers by offering attractive introductory rates, which typically last 2 to 5 years in the UK. Once this period ends, your mortgage reverts to the lender’s Standard Variable Rate (SVR). At this stage, borrowers have three options:
Stay on the SVR: This is only sensible if remortgaging costs outweigh potential savings.
Remortgage with your current lender: This can sometimes secure better terms with minimal hassle.
Remortgage with a new lender: This often yields the best savings but requires careful evaluation of associated costs.
Costs to Consider When Remortgaging
While remortgaging has the potential for significant savings, it’s essential to account for the associated costs, such as:
Property Valuation Fees: Your home will need to be revalued.
Legal Fees: Paperwork must be processed to formalise the new mortgage.
Exit Fees: Your current lender may charge a fee to close your existing mortgage.
Early Repayment Charges: If you exit your mortgage before the agreed term, a penalty may apply.
To decide if remortgaging is worth it, simply add up all the costs and compare them against the potential savings. If the savings exceed the costs, remortgaging could be a wise financial move.
Why Choose Barrett Mortgages?
Barrett Mortgages is a trusted, professional finance broker based in Poole, Dorset. Founded in 2009 by Darren Barrett during one of the most challenging periods in the financial industry, we’ve built our business on providing clear, honest, and upfront advice.
What Sets Us Apart?
No High-Pressure Tactics: Unlike large corporates, we focus on understanding your needs and providing tailored solutions.
Qualified Experts: Our experienced team is dedicated to delivering the best possible experience for every customer.
Strong Reputation: We rely heavily on referrals from satisfied clients, which speaks volumes about the quality of our service.
Get in Touch
If you’re ready to explore how remortgaging can save you money, contact Barrett Mortgages today. Our friendly advisors will guide you through every step, ensuring you get the best advice and a stress-free experience.
Visit our website or reach out directly to discover more about our services, including first-time buyer mortgages, self-employed mortgages, and more. Let us help you achieve your financial goals.
Are you looking to save as much money as possible on your mortgage? At Barrett Mortgages, we specialise in helping clients find the best remortgage deals tailored to their individual circumstances. By comparing products from a wide range of lenders across the market, we ensure you secure a product that works for you. From assessing how much you can remortgage for to guiding you through the process from enquiry to completion, we make the entire transaction smooth and hassle-free.
Why Consider Remortgaging?
According to a recent survey, 31% of people who rent or have a mortgage spend more than a third of their household income on payments. Even if your payments are below this threshold, securing a better mortgage deal can significantly improve your financial well-being and boost your personal wealth.
Mortgage lenders are always competing to attract new customers by offering attractive introductory rates, which typically last 2 to 5 years in the UK. Once this period ends, your mortgage reverts to the lender’s Standard Variable Rate (SVR). At this stage, borrowers have three options:
Stay on the SVR: This is only sensible if remortgaging costs outweigh potential savings.
Remortgage with your current lender: This can sometimes secure better terms with minimal hassle.
Remortgage with a new lender: This often yields the best savings but requires careful evaluation of associated costs.
Costs to Consider When Remortgaging
While remortgaging has the potential for significant savings, it’s essential to account for the associated costs, such as:
Property Valuation Fees: Your home will need to be revalued.
Legal Fees: Paperwork must be processed to formalise the new mortgage.
Exit Fees: Your current lender may charge a fee to close your existing mortgage.
Early Repayment Charges: If you exit your mortgage before the agreed term, a penalty may apply.
To decide if remortgaging is worth it, simply add up all the costs and compare them against the potential savings. If the savings exceed the costs, remortgaging could be a wise financial move.
Why Choose Barrett Mortgages?
Barrett Mortgages is a trusted, professional finance broker based in Poole, Dorset. Founded in 2009 by Darren Barrett during one of the most challenging periods in the financial industry, we’ve built our business on providing clear, honest, and upfront advice.
What Sets Us Apart?
No High-Pressure Tactics: Unlike large corporates, we focus on understanding your needs and providing tailored solutions.
Qualified Experts: Our experienced team is dedicated to delivering the best possible experience for every customer.
Strong Reputation: We rely heavily on referrals from satisfied clients, which speaks volumes about the quality of our service.
Get in Touch
If you’re ready to explore how remortgaging can save you money, contact Barrett Mortgages today. Our friendly advisors will guide you through every step, ensuring you get the best advice and a stress-free experience.
Visit our website or reach out directly to discover more about our services, including first-time buyer mortgages, self-employed mortgages, and more. Let us help you achieve your financial goals.
