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If it wasn’t for Lak we would never have got the property. .
I have no hesitation recommending Lak Tamana and Associates.
When looking for a mortgage broker we initially went to another broker who confused and restricted our options. We then met Lak who simplified the process and gave us a more competitive deal in a timely manner to relieve pressure from agents and get the house of our dreams.
Many of us have changed one or more financial arrangements from an existing provider to another company to take advantage of a better deal.
It could be for a better savings interest rate, a lower credit card rate or to save money on home or car insurance.
And yet a lot of people never consider doing the same thing with what may be their largest single monthly expenditure – their mortgage.
When you first take out a mortgage, there’s a natural tendency to think of your relationship with the mortgage lender as being a long-term arrangement.
Even though most mortgage deals usually tie you to that lender for no more than three to five years.
That means after that initial tie-in period you’re free to move your mortgage elsewhere for a better rate. This is known as remortgaging.
Some analysts are predicting that an upturn in the economy could allow more people to benefit from better interest rates by remortgaging.
A number of factors have depressed the remortgage market over the past few years.
These include stricter underwriting criteria to qualify for a mortgage, generally tighter household finances and a lack of equity caused by stagnant house prices in many parts of the country.
In the past couple of years there has been particular concern about so-called “mortgage prisoners”.
Those who are forced by circumstances to remain with their current lender on an unattractive Standard Variable Rate – may be at risk of financial difficulty if the Bank of England base rate begins to rise and their mortgage payments increase in line with the rate change.
The figures assume a continuing economic recovery that could not only boost employment, but also help increase housing prices, improving many homeowners’ levels of available equity.
If the Bank of England rate does start to creep up it could also see many existing borrowers with base-rate-linked mortgages start to look around for a better deal.
Your lender should send you a mortgage statement each year.
This presents you with the ideal opportunity to consider your current mortgage deal and whether it still represents the best match for your circumstances.
As well as showing your total mortgage balance and payments made over the previous twelve months, your mortgage statement will show the interest rates and, crucially, details of any “product” that applies to your mortgage – for example, a fixed or tracker rate deal.
If your mortgage is on a specific deal, the statement will also let you know when it ends, and whether an Early Repayment Charge is attached to the product.
If your mortgage deal has an Early Repayment Charge, it means that you will be penalised for repaying or switching your mortgage before your current deal expires.
If so, remortgaging may not be the best option as the savings you make by switching to a better rate will be offset by the fee charged by your current lender – which may amount to hundreds or even thousands of pounds.
If there’s no Early Repayment Charge on your current mortgage – and especially if your mortgage is on the lender’s Standard Variable Rate – then you may benefit from looking at your remortgage options.
In some cases, homeowners can save hundreds of pounds by moving their mortgage to a more attractive rate with a different lender.
By speaking to a qualified mortgage advisor who has experience in the remortgage market, you’ll receive expert, friendly advice about the deals available from hundreds of UK mortgage lenders.
From high street banks and building societies to specialist bespoke lenders.
Lak Tamana & Associates have over a 25 years experience in financial services and can provide you with a fast no-obligation remortgage quote.
They’ll scour a comprehensive range of thousands of remortgage deals from across the UK mortgage market to find the most suitable one for you.
So contact them today and find out if remortgaging could save you money.
For expert remortgage advice contact Lak Tamana & Associates today.
Call now on 07973 748473 for a quote. There’s absolutely no-obligation.
Or simply enter your details in the request a call back form. We look forward to talking with you.
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.