We all know that right now, the UK is facing soaring interest rates, and so the question for many of us is: is now the right time to remortgage? In short - for some of us we could say that it is absolutely the right time to think about remortgaging, but this isn’t the case for everyone.
For anyone concerned about whether it’s a good time to remortgage, the best place to start is to make contact with a mortgage advisor, such as ourselves, to discuss your personal situation. Here at Cox & Flight, we offer a free and impartial discussion, to review your next steps, according to your household’s specific financial landscape.
Mortgage renewals can feel daunting, and there’s no doubt that it can feel increasingly so in our current economic climate. For those who are approaching the end of their 2-year or even 5-year fixed rates, interest rates could likely be much higher than the original rate, and could now be faced with a potential significant increase to monthly payments.
During an initial appointment, we can help you to look at your current financial picture and look at whether now is a good time to switch rates, switch to a new provider or stay as you are. Our discussions also cover other outlying factors, such as
We look at the overall package to assess if you are doing everything you can to protect your household whilst keeping costs to a minimum.
In summary, when it comes to remortgaging, it might not be the best thing to do for everyone. Most of us believe that we must act now to secure a new rate or new provider but we would say that the best action is to engage a mortgage advisor to confirm your next steps. Our approach is a true holistic view, which facilitates the decision around whether to stick or twist when it comes to your mortgage. If you are interested in a chat with us, contact us today to book a no-obligation appointment.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE.
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Cox & Flight Financial Solutions Ltd is an appointed representative of HL Partnership Limited which is authorised and regulated by the Financial Conduct Authority. Cox & Flight Financial Solutions Ltd registered in England and Wales with company number 13246868. Registered Office: 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.
There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate it will be £499. Your home may be repossessed if you do not keep up repayments on your mortgage.
The guidance and/or information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.