Thinking about switching your Mortgage?

Thinking about switching your Mortgage?

Against the backdrop of rising rates and a worsening macroeconomic situation, the Financial Conduct Authority (FCA) is urging people to consider switching mortgage providers to find a better deal.

Big savings
Awareness of the need to switch has increased in recent years. Currently, 370,000 mortgage holders could save money by switching their mortgage.
Around 150,000 may save over £1,000 a year each, proof that there are still big savings to be made. Indeed, switching could save some borrowers £1,240 each year.

Stick or twist?
For some, however, switching might not be the best bet. Those on reversion rates – the rate a mortgage ‘reverts’ to after a fixed-rate mortgage period ends – are not necessarily getting a worse deal, the FCA stressed.

Others, especially those thinking of moving or who want to repay at will without facing early repayment charges, could benefit from the greater flexibility of reversion rates.

Here to help
Whether you’re staying or going, the best option is usually… to explore all the options! Every homeowner’s situation is unique; I can work with you to secure the right deal for your needs.

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.

What will it cost?
Financial products involve a commission, and I may need to charge a fee for the time I spend on your case. This will typically be £350 and is payable upon an application being processed.
Please call me for a free no-obligation discussion. I will advise you how to get the best possible mortgage deal for your personal circumstances.

Alicia Baker Consultancy
To find out about any of my financial services. Please contact me for a free no-obligation discussion. I can find you the most appropriate mortgages, home insurance and personal insurances, such as life and critical illness cover to protect you and your family.
Alicia Baker Consultancy is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority.

Your home may be repossessed if you do not keep up repayments on your mortgage. As with all insurance policies, conditions and exclusions will apply