Fashion, Lifestyle & Parenting Blog

Is Your Mortgage Interest Rate The best It Can Be?

We are all being asked to work at home as much as we can due to the coronavirus pandemic. We should look at our finances and ensure that our outgoings are as low as they possibly can be.

I recently contacted my Mortgage Broker and asked that she checks the mortgage market to see if any better deals were available that would save me money each month but also to allow a change again after say a year where interest rates might be lower. She said I was lucky as I had over 15% equity in my property and that some deals would save me £100 a month. Great news!

My Broker advised that had I been a First Time Buyer the current loan market would be challenging. A lender such as Metro just needed 10% but the majority of Lenders wanted much larger deposits. This was causing my broker a real headache as deals were being pulled all the time.

Getting a deal done in the shortest possible time was priority.

Quotes To Cover Conveyancing Required

The deal my Broker found for my remortgage would expire in 6 weeks. She did say that the lender provided Free legals but in her experience the deals she had put forward in the past had failed because the legals were so slow. She suggested I use an independent Solicitor that could do my remortgage conveyancing.

To my amazement the internet just like car insurance provides the opportunity to search for conveyancing quotes. Two types of website exist, the first is where you are free to browse quotations without disclosing your personal details and the other is where you have to enter your details before they display the quotes.

Did I really want to be inundated from Solicitors touting for my business, I didn’t and focused on using the website that provided like for like quotes without entering my contact details – Homebuyer Conveyancing

Your Open Door To Conveyancing Opportunities Without The Hassle

Homebuyer Conveyancing provides an excellent opportunity to understand the cost of conveyancing, not just for remortgages but when selling and buying property. You can filter your results by price, location and by Mortgage Lender.

My Broker advised that time and time again Sellers instruct a Solicitor and then realise that when they find a property to buy, their instructed Solicitor can’t act as they are not approved by their proposed new Lender. The Homebuyer website solves that problem.

Focus On The Time It Takes To Get The Job Done

Time is money and that rings true when wanting to secure the best mortgage deal. This happens when you exchange contracts. I was lucky my Broker from past experience was able to advise me what I should do. I listened and now saving each month. I have a portable mortgage where if I move house, I can take the mortgage with me.

What Can I Save On Next?

Now I know how comparison websites work I am going to review my house insurance and my energy costs. I will use websites where I can freely browse to compare. I hate receiving unexpected calls as I normally get called from someone offering a service that I know sounds too good to be true.

You are probably thinking the same!

In Lockdown I made a list all my outgoings. I am on a mission to save

Watch out for my next savings news.