Remortgaging

Now is the perfect time to change from an endowment to a repayment or flexible mortgage option. Many homeowners today, who took out endowment policies in the 90's could find that their existing provider can convert them to a new full repayment or flexible mortgage option without penalty, for a small admin fee. Many endowments have not fared well over the past decade and might not cover the amount of your loan. Check with the policy provider that yours is on target. If not DO NOT CASH IT IN. For a small monthly increase you can convert, through your current mortgage provider to a full repayment or flexible option. ...  Read the complete review

Have you ever wondered just how much money may be locked up in your home? Well, it could be thousands of pounds but few realise and even fewer do something about it. I enlisted the help of my brother's pet llama from South America. He's kinda laid back but faces the same issues as you and me. So let me introduce you to Larold the Llama (so called 'cos his father was a big fan of Steptoe & Son although he did have a little difficulty hearing properly). I arranged a meeting with Larold a couple of weeks ago and we duly met in a copse in Central Scotland. My brief was this: to reduce Larold's mortgage outgoings on his ...  Read the complete review

Having recently got around to investigating if I could save money by changing my mortgage lender I discovered substantial savings could indeed be made after visiting many lenders. So, with expectations of long tie in periods, hidden expences and a lot of pain and grief I approached Nationwide building society. The service I received was absolutely first rate, I signed an agreement and they did the rest. They used their nominated solicitors and surveyors and the only outlay on my part was a couple of hundred pounds for a survey which they refunded when I took up the remortgage offer. There was never any pressure to purchase any of their other financial products (life ...  Read the complete review

Yes, everybody is remortgaging, or so it seems to me. I work for a Mortgage lender, in their Redemptions Department, and we are really busy because everybody can see that better deals are to be had elsewhere. Statistics show that you are more likely to get divorced than change banks, but this is certainly not the case with changing mortgage lender. You don't have to change, though! Most mortgage lenders are aware that people, once they are out of their discounted period, and penalties, will move, and so have specific departments to keep you with them. It may proove cheaper if you contact your existing lender and ask them about their own deals than going ...  Read the complete review

A few years ago now, I watched a report on Anne Robinson's Watchdog programme, which claimed that many home owners in the UK were paying too much for their mortgages. As some of you will know, I am somebody who resents paying even a penny more than I should do for anything, so my ears pricked up at this information and I listened carefully to what she had to say. At the time, many banks and building societies in this country calculated the interest on your mortgage yearly. At the beginning of each year (or financial year), they look at what you have owing and calculate the interest on this amount for a whole year. They then divide this amount by 12 (the ...  Read the complete review