I spoke with Halifax today discussing clients who are already with Halifax for their mortgage with rates that have expired. I was suprised to learn that over 80% of Halifax mortgage customers whose deal had come to an end are sitting on the Halifax’s variable rate which will usually be 3.50% or 3.99%.
Now 3.50% isn’t a bad rate, but for those customers with lots of equity there are much better rates around and you should seriously consider switching your mortgage,
Imagine this scenario –
You are currently sitting on Halifax variable rate at 3.50%, say your mortgage payment is £800 per month, we can look at other mortgages for oyu and possibly reduce that rate by say 0.50%. What if you reduced your rate but kept your monthly payments the same, how many years would you knock off your mortgage with potentially massive savings in interest over the term.
What about those of you who don’t want to go through the hassle of providing pay slips, proof of address, proof of identity etc, well we can offer a mortgage product switching service, where we can secure a fixed rate for you now whilst fixed rates are probably at the lowest they are likely to be.
Finally, thjose with little or no equity, which ubfortunatly some of you will have experienced. No problems there either, we can still find another fixed rate for you.
For anyone wanting to switch reates there are som emortgages with no fees at all, so we really can find something to match your preferences.
Think about this – your on the variable rate at the moment whilst rates are low and likely to stay low for the near future, possibly up to the end of 2013. When will you switch to a fixed rate? when rates start to increase, say the end of 2013? What do you think will happen to Fixed rates if gthe base rate i increasing? Yes, fixed rates will no doubt increase, so should you be securing a fixed rate now whilst they are low or wait till they start to increase? Some 5 year fixed rates are now below 4%.
If you want to discuss through the options open to you, please give us a call on 0800 566 8540 or email or why not use our Live Chat facility.
As always each of the options are subject to status and mortgages are secured against your home, which means you miust keep up repayments or your home could be at risk.
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