Read our series of Blogs on whether to Stay with your existing lender or Switch to a new lender

Stay or to Switch (1of4) ….. the remortgage question?

Category: Blog

When your mortgage “scheme” ends and you are about to leave your current fixed interest rate, what is best – Stay with your current lender or Switch to a new lender?

Did you know that 55% of customers say they’re likely to stay with current lenders when it comes to re-mortgaging? But – there could be a better deal waiting with another lender, and I’m here to help you find it.

When Legal & General completed research, they delved into the reasons behind why customers said they would stay with their existing lender.

  • 42% gave the reason of trust and a belief that existing lenders will give the best deal.
  • 38% of people explained that it felt like the easiest thing to do.
  • 18% of people did not feel they would get a better deal with another lender.

As a whole of market adviser, I have access to a wide variety of mortgage options and lenders, some which are not available to the general public. I will make sure I thoroughly understand your individual circumstances to find a match specific for you and your needs. I will compare what is available from your current lender with other options to see what is best to recommend. It might be that your current lender does indeed offer the best deal for you – but in many cases there are better options elsewhere.

It is always best to get professional advice before remortgaging

There’s such a lot to do in life, so when it comes to switching mortgages, it can be hard to find time to look for the best deal. And what features should you look out for? Research* shows that interest rates were considered the most important factor by 63% of respondents. But there’s so much more to re-mortgaging – and getting the help of an adviser can gain more than the best rates:

  • I will work with you – and fully understand your situation before recommending the most suitable lenders and deals. I’m not only experienced at finding all types of products, including those for out of the ordinary situations, I have access to many lenders and deals.
  • Advice you can trust – One of the many benefits of using a mortgage adviser is that we are regulated by the Financial Conduct Authority (FCA).  What many consumers don’t understand is that when they go direct to their bank, the full responsibility for their product choice lies with them.
  • More time for you – I’ll find you the right product and undertake most of the administration, so you have more time to spend elsewhere.
  • Potentially lower rates – advisers build relationships over years and could have access to special rates that you would not be offered direct by a lender.

Contact us to see how we can secure you a mortgage that fits.

* Research conducted by Legal & General Mortgage Club (Legal & General Group Plc)

‘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.

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