If you have a mortgage on your property, you probably reviewed a few different options when you had to make your purchase. How much to borrow, interest rates, fixed or variable rates, and the length of the mortgage term are some of the factors to consider when choosing the best home loan.
But as times change, so do your own personal circumstances, which could mean your current mortgage is no longer the right one for you. Whether you've had a promotion, got married, started a family, want to reduce your monthly payments, or you want to release equity from your home, there could be a better option out there for you. And you may benefit from shifting your home loan from one lender to another.
Of course, it doesn't have to be your own circumstances that have changed either. Movements in the economy such as an increase in the Bank of England base rate or interest rates could mean you can get a better deal for your home and lifestyle elsewhere. It may even be sensible to pay a redemption penalty so you can save a significant amount on repayments in the long-term.
At Outlet, as well as expert property services we have a Money team dedicated to providing financial services. That includes mortgages, insurance products and more. If you'd like to discuss your current mortgage and the possibility of changing to a more suitable home loan, give our experts a call on 020 7287 4244. Just some of the reasons people call us to reivew their mortgage include:
- Releasing money from the property for home improvements
- Reducing the amount paid monthly with a better / lower interest rate
- Increasing the amount paid monthly
- To reduce or amend the terms of a mortgage
- To upsize and move to a different property