With Furlough ending in just over two months and already, job cuts are pushing 650,000, leaving thousands of homeowners worried about paying the bills and mortgage. Cutting the cost of any outgoings is a sensible move right now, but did you know you can cut the cost of your mortgage– THE BIGGEST OUTGOING OF THEM ALL?
","doYouWantAButton":false,"buttonLink":"","buttonLabel":""},{"__typename":"DatoCmsContentBlock","model":{"apiKey":"content_block"},"doYouWantAHeading":false,"heading":"","doYouWantText":true,"text":"With fewer mortgage deals to choose from than ever before First-Time Buyers may feel that their hands are tied, especially as lenders become pickier about who they lend to. However, there are still ways to cut down on the monthly bill and potentially save thousands of pounds in the long run.
","doYouWantAButton":false,"buttonLink":"","buttonLabel":""},{"__typename":"DatoCmsContentBlock","model":{"apiKey":"content_block"},"doYouWantAHeading":false,"heading":"","doYouWantText":true,"text":"Here at MortgagesRM – Sheffield Fee Free Mortgage Advisor, we are giving you the basic tips on how to launch your own post-COVID recovery by cutting the cost of your mortgage.
","doYouWantAButton":false,"buttonLink":"","buttonLabel":""},{"__typename":"DatoCmsContentBlock","model":{"apiKey":"content_block"},"doYouWantAHeading":true,"heading":"Move off your standard variable rate","doYouWantText":true,"text":"One of the biggest mortgage mistakes you can make is slipping onto your lender's standard variable rate. However, the interest rate you default with when your fixed-rate deal comes to an end is not moving back onto a cheaper deal.
This can end up costing hundreds of extra pounds a year, and there are usually no downsides to switching to a cheaper deal. The caveat here is that if you switch lender, they'll value your home which could affect the deals you are eligible for.
In recent years mortgage rates have dropped to for many households, so it is possible to save hundreds or even thousands of pounds a year by remortgaging.
","doYouWantAButton":false,"buttonLink":"","buttonLabel":""},{"__typename":"DatoCmsContentBlock","model":{"apiKey":"content_block"},"doYouWantAHeading":true,"heading":"Ask for a Better Deal from your Lender","doYouWantText":true,"text":"Households are routinely warned about the so-called 'loyalty penalty' that sees them offered a worse deal than new customers on everything from house insurance and energy to broadband.
Some customers, however, still move onto the standard variable rates if they do not switch to a new deal, banks and building societies are becoming for more proactive in tempting customers to stay with them.
","doYouWantAButton":false,"buttonLink":"","buttonLabel":""},{"__typename":"DatoCmsQuoteBlock","model":{"apiKey":"quote_block"},"quote":"A payment holiday can be offered to anyone who asks for one, and borrowers who are behind on commitments should be treated the same as those who are up to date, "},{"__typename":"DatoCmsContentBlock","model":{"apiKey":"content_block"},"doYouWantAHeading":true,"heading":"Stephen Kerrigan, Sheffield Mortgage Advisor. ","doYouWantText":false,"text":"","doYouWantAButton":true,"buttonLink":"https://www.google.com/maps/place/data=!4m2!3m1!1s0x48790dd9fb215a1b:0x467bf2022c58665f?source=g.page.m","buttonLabel":"Sheffield Mortgage Advisor "},{"__typename":"DatoCmsContentBlock","model":{"apiKey":"content_block"},"doYouWantAHeading":false,"heading":"","doYouWantText":true,"text":"This means you won’t need to be in the majority of cases that won’t need to show proof of financial hardship to qualify. However, you may need to provide a brief description of your circumstances, the loan details and confirm that you are struggling to keep up with repayments.
","doYouWantAButton":false,"buttonLink":"","buttonLabel":""},{"__typename":"DatoCmsContentBlock","model":{"apiKey":"content_block"},"doYouWantAHeading":true,"heading":"Consider Downsizing","doYouWantText":true,"text":"Moving to a cheaper and smaller home now is not a bad move, sure there are fewer mortgage deals out there to pick from, plus the hassle of local lockdowns in some areas with a spike of coronavirus cases, you can, however, take advantage of the government's recent stamp duty cut.
","doYouWantAButton":false,"buttonLink":"","buttonLabel":""}]},"datoCmsContactInformation":{"phoneNumber":"01302 361361 ","facebook":"https://www.facebook.com/mortgagesremortgages","twitter":"https://twitter.com/mortgagesrm","linkedin":"https://www.linkedin.com/company/mortgagesrm"},"datoCmsCallToAction":{"title":"Book your fee free consultation today"},"site":{"siteMetadata":{"title":"Mortgages Remortgages","description":"Doncaster's lead independent mortgage broker, offering unbiased mortgage advice from the entirety of the marketplace."}}},"pageContext":{"isCreatedByStatefulCreatePages":false,"slug":"save-on-your-home-loan"}}