If, like many in the UK, you are looking to cut down your monthly expenses and you are a homeowner with a mortgage we may be able to help you out. With historically low interest rates many people could save hundreds of pounds on their monthly repayments - which becomes even more impressive when look at the savings over a year or the life of your mortgage. There are few things you can scrimp on that will make such a major impact to your pocket at the end of the month, so why count the pennies at the supermarket when you could save thousands of pounds every year by remortgaging your house?
While the savings you can make will undoubtedly depend on your Loan To Value (LTV), in all but the most extreme cases it is worth considering rearranging your finances. While those with a LTV of 70% or lower stand to make the biggest savings there are now products on the market for people with 80 or 90% - with some 90% products coming in under 4.5% - and even some lenders who will accept as high as 95 or 100% LTV. If you are on a fixed rate mortgage that is due to expire, or even a tracker or variable rate that is grandfathered in at a high rate it is definitely worth speaking to a broker to confirm whether they can save you money. When calculating how much you stand to gain it is definitely worth paying close attention to any fees applicable from both your current and future lender, but provided you have more than a few years left on your mortgage in most cases these will be fairly insignificant in comparison to your savings.
So, what are you waiting for? You could be £100 richer at the start of every month with the right product - and its fair to say that interest rates aren't going to get any lower! There's never been a better time to remortgage, so why not speak to an advisor today?