ADVICE COLUMN: Lanarkshire broker on getting your mortgage sorted sooner rather than later
dailyrecord.co.ukHello and welcome to this month’s edition of my mortgage advice column.As we head into the winter months, I want to highlight why getting your mortgage in order sooner rather than later can be beneficial in the long run. Why review your mortgage? In the current climate, everything seems to be going up in price due to inflation, the cost of living, and energy and fuel price volatility - not to mention mortgage rates.
With this in mind, now is the perfect time to review your mortgage and see if you could potentially save money, or protect yourself against further rate increases.I’ve recently had several clients approaching me who have been moved on to their current lender’s ‘Standard Variable Rate’ following the end of their mortgage term.
This means that an increase in mortgage payments is generally inevitable, given the high rates we are currently experiencing.However, there are options available to you and steps you can take to combat this.The Lanarkshire Live app is available to download now.
Get all the news from your area – as well as features, entertainment, sport and the latest on Lanarkshire’s recovery from the coronavirus pandemic – straight to your fingertips, 24/7.The free download features the latest breaking news and exclusive stories, and allows you to customise your page to the sections that matter most to you.Head to the App Store and never miss a beat in Lanarkshire - iOS - Android Falling onto an SVR Many people fall into the trap of landing on a ‘Standard Variable Rate’ (SVR) with their existing mortgage provider.
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