Two years ago, Matt and his family took out a mortgage with a well-known high street provider and they were coming to the end of that deal. They were in no doubt that they wanted to remortgage. “We knew rates had improved and we knew it was a good time to move mortgage product”.
Matt approached Number One Mortgages to discuss the remortgage.
We’d had Number One Mortgages recommended some years back and so had every intention of speaking with Kevin once the time came to choose a new product.
Matt was clear about his objectives. He wanted to raise funds to consolidate some credit card debt as well as a little extra to treat the family. At the same time he wanted to improve the terms of his loan to allow him to do that as economically as possible. And this is where he felt using an independent mortgage adviser was so useful: “Kevin was able to source quotes from a wide spectrum of the market and he understood our aims and objectives”.
What happened next exceeded everyone’s expectations. Matt was able to raise £25,000, reduce his mortgage term by 2 years, fix the rate for 2 years and keep his monthly payments exactly the same as his current mortgage payments! “Remortgaging has given us security. We are now able to plan ahead with confidence”.
We asked Matt whether he had any advice for people in the same situation? “With interest rates at their lowest ever level and possibly set to stay that way for a while longer yet, it couldn’t be a better time to remortgage. If you’re at the end of your mortgage product tie-in period, it’s a no-brainer”.
And was he happy with the service he received? “Number One Mortgages provide a really first class, personal financial service with an approach that listens to the customer and understands what they’re hoping to achieve. Highly recommended”.
We are always available to offer advice on this and other financial matters. Contact us on 01273 736536 or use our contact form.
Debt consolidation is not always the most suitable option, consolidating debts must be carefully considered. It will usually mean more interest over a longer repayment term and there may also be early repayment penalties on the current mortgage.Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. There are other ways to manage debt such as free debt advice charities, you can find out more by contacting the Money Advice Service, these services may be more suitable for you.