If you are on a fixed-rate mortgage that is due to come to an end soon you may be worried about how much your monthly mortgage payments may increase by or what your options are. Alternatively, you may already have a mortgage and be paying an unnecessarily high rate of interest, therefore wasting money. Either way you need to review your mortgage.
Reviewing your mortgage may seem daunting but, in reality, it’s easier than ever to do it all online. It is also possible to be alerted whenever there is a better mortgage deal in future than the one you are currently on, so ensuring that you are always on the best deal.
Reviewing a mortgage is the one time that I would ALWAYS use a mortgage adviser because the mortgage rates you see on comparison websites are only indicative. That means that if you apply you are not guaranteed to be accepted by the lender because of your financial circumstances, which could end up damaging your credit report. But gone are the days of having to meet a mortgage adviser face to face. There are now companies that can do everything for you online. They will find the best deal that you are most likely to secure and even do all the administration work for you.
What you need to do:
TIME NEEDED - 10-15 MINUTES
If you don't know a mortgage adviser whose opinion you trust, then click through to Habito*, one of the first online mortgage brokers in the UK. I've personally been into Habito's offices to grill them over their proposition and recommendation process and was impressed. Habito also has 4.9 stars out of 5 on Trustpilot from over 8,500 customer reviews. I was impressed with Habito* because it has built technology that allows it to:
- track and access the whole of the mortgage market in seconds
- review over 20,000 mortgages from more than 90 mortgage lenders
- tell you how much you can borrow and make a recommendation
- continually monitor the market for you to ensure that you are always on the best deal
- do all this online with no meetings (so perfect for using during your commute)
It only takes 10-15 mins to register online and they'll be able to give you instant, free mortgage advice. If you want to find out more, read my full Habito review
It's as easy as that and explains why 550,000 people have used Habito already since it launched in 2016.
Free Mortgage ReviewIs your fixed rate deal coming to an end?
A free mortgage review will tell you the best option even if that's staying with your existing lender - No obligation
The theory
If you want to know more about remortgaging then read our articles:
How to remortgage and get the best rate
How long does it take to remortgage your home?
Should I remortgage with the same lender?
If a link has an * beside it this means that it is an affiliated link. If you go via the link Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. But as you can clearly see this has in no way influenced this independent and balanced review of the product. The following link can be used if you do not wish to help Money to the Masses - Habito
