Before securing your next mortgage deal, it’s important to reflect on what’s changed, and also what’s likely to change in the future. These are factors which could influence how much you need or want to borrow. As an adviser I can help you ensure your next mortgage fits both your current and future needs.
After all, a lot can change in 2, 3 or 5 years. We’ve all witnessed the pandemic being testament to this. Think about your life when you initially agreed your mortgage – compared to today. What, and how much, has changed?
Questions to consider could include:
- Has your family grown or is it growing?
- Are your children heading off to university or interested in buying a home of their own?
- Has your relationship status changed or planning to change in the future?
- Have your finances or personal circumstances changed or been impacted by the pandemic?
- Has spending more time in your home over the last 12 months made you re-think your requirements?
A survey* identified the following reasons why people are considering additional borrowing on their mortgage right now:
- Home improvements/renovation costs (34%)
- Home extension / building works (27%)
- Other property purchase (24%)
- Debt consolidation (17%)
Perhaps you’ve already made the decision to add additional borrowing to your re-mortgage for one of these reasons?
Or perhaps you would like my help to work out how much you can borrow and your borrowing needs?
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.