Book a Property Valuation

Re-Mortgage

Re-Mortgage

Selling GPEA News 14th December 2015

Remortgage – time to review

As we enter Autumn, lender focus turns to the end of year and building pipeline business for the New Year.  Those that have perhaps not managed as large a volume of business as they would like will be eyeing their year end target nervously.

Not all lenders’ financial year will be the calendar year but those that are eager to get more business on the books before Christmas need to act now.  As a result it’s not unusual to see lenders make a final push to attract customers. 

There is often particular attention on remortgage business as that can typically be quicker to reach completion than new purchases.  This year is showing no signs of bucking that trend and many lenders have been repricing their mortgage rates recently.

The market remains very competitive and cutting rates is a good way to grab the attention of borrower’s.  That has also been helped by a calming in funding costs as the threat of an imminent rate hike has eased.  As a result rates have dropped back after having nudged up a little in recent months.

It’s therefore a very good time for borrowers to review their mortgage and see if there could be an opportunity to cut their monthly cost.  The headline interest rate is only part of the picture though and borrowers need to be sure to consider overall value.

Some of the lowest rates can carry big set up fees which can quickly erode the savings.  However, most lenders will offer a variety of options with different rate/fee combinations. 

In addition, many deals will come with incentives such as free valuation and legal work or a cashback to help deal with switching costs.  It can therefore pay to opt for a product with a slightly higher interest rate but low set up fees.

What certainly doesn’t pay is apathy and failing to review your deal could be costly.

Guild Mortgage Service, Provided by London & Country Mortgages

YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Who We Are

Williams & Goodwin The Property People are members of the Guild of Property Professionals, National Association of Estate Agents, Association of Residential Lettings Agents, National Association of Valuers and Auctioneers and are Chartered Valuation Surveyors we are members of a National Network of approximately 800 independently owned and operated Estate Agents.

More about Us






This website was translated by Bla Translation Ltd
mail@bla-translation.co.uk
www.bla-translation.co.uk

Get in Touch

Do you want to find out more about Williams & Goodwin and their services, call or email us today.

Caernarfon - 01286 677 775
Bangor - 01248 355 333
Llangefni - 01248 751 000
Holyhead - 01407 760 500
Property Management - 01248 72 40 40
All Wales Auction - 01248 75 39 39

Click here to see full office details


©2019 Williams & Goodwin The Property People. All rights reserved. Terms and Conditions | Privacy Policy | Cookie Policy | Members Login
Registered in England & Wales. 

Check mortgage eligibility online