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Free Mortgage Review
With the mortgage market going through some very profound changes, now is the time for consumers to consider reviewing the mortgages they have chosen. With the Standard variable Rates (SVRs) of many variable mortgages increasing rapidly, homeowners would be prudent to approach a professional for a mortgage review. The current climate is going to have a greater impact on those with a variable mortgage than on those with a tracker mortgage as the base rate set by the Bank of England is not expected to rise over much more than 2.5% in the next three years, according to reports published in the Guardian newspaper.
Yet it seems that few consumers are aware of the concept of a mortgage review, despite that it could potentially save them a lot of money. It could be that people are paying too much for their mortgage without having reviewed it for some years. They may be unaware of the changes it has undergone since they first applied or, alternatively, if their variable or tracker rate has expired, they may be paying the lender’s SVR, which could be a lot more than others offered in the marketplace.
There are firms who charge a fee for a mortgage review, but there are growing numbers of those who don’t. Independent mortgage reviewers are not affiliated to any particular lender and can apply impartial judgement to a review without being obliged to sell any particular financial product. These reviewers can take their fees from the lender in the event that they secure a new mortgage on behalf of their clients. In the event that they are not able to improve on the client’s mortgage, then the client has lost nothing but a little time. For the sake of a few minutes of your life, a mortgage review could be a quick way to cut your costs considerably.
Here at 3mortgagebrokers we do not charge a fee for a mortgage review, please contact us here and a member of our specialist team will be in contact shortly or alternatively call us on 0151 448 7084.
Posted by admin On March 29th, 2010 Permanent link
