We are using the month of April to ‘spring clean’ your finances and mortgage needs. Throughout, we reveal why we can offer bespoke advice specially tailored to you. Compare the market websites might be a quick solution. But they won’t provide ongoing support and advice through the whole process. Trust us to use our own ‘compare the market’ and the best part? It’s completely free for you. If you are an introvert who doesn’t like the phone, after our initial consultation, everything can be done via email. And if you are an extrovert, we have great news: we are available to chat whenever you need our advice!
Now, let’s look at some statistics of why it’s an especially important time to get organised. Experts have seen the data, and house prices are on the rise — 10% higher in some areas of the UK! Average earnings have seen a growth of 6% over the last year. And importantly, we also recently had the recent base rate reduction, which means good things for interest rates! But another survey recently exposed that one in 10 adults are unaware of their monthly spending. We’ve popped some tips at the end of this email to help you get on track!
In this month’s newsletter:
Why a specialist can save your mortgage.
In our post-pandemic world, we are seeing lots of changes for the needs of borrowers! Do you need specialist help? Reach out, and we’ll help you get organised and secure your new mortgage!
For those still benefiting from low mortgage rates, many homeowners have chosen to take a second charge rather than remortgage, say for debt consolidation and home improvements.
A second charge mortgage is a loan that is secured against a property that already has a primary mortgage (first charge). If you have a property with a first mortgage, you can take out a second mortgage to access additional funds. But, second charge loans typically have higher interest rates and come with closing costs, which you’ll need to pay upfront when taking out the loan.
You might consider a regular re-mortgage or a re-mortgage with additional borrowing as alternatives to a second mortgage. However, for those with low mortgage rates, many homeowners are choosing to take a second charge rather than remortgage. Using the funds for home extensions or office spaces, which in the long run, will add more value.
Specialist solutions can provide borrowers with flexibility and more options. Specialist lenders adapt, providing finance to match the changing property trends. We can also help borrowers who may be struggling financially. Giving you flexibility and choices.
We are here when you need us. Give us a call today to chat more about your options and the best way to manage your mortgage.
Think carefully about securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
A fresh start for your money this spring.
Let’s get a bit cheesy this month with this very catchy phrase: “Spring Cleaning Your Finances—A Fresh Start for Your Money.” But research shows most British adults do not have enough savings. As we hopefully feel slightly warm temps, and the days are getting longer, spring offers the perfect opportunity for a fresh start. Not just for your home, but for your finances too.
Here are some fun and easy tips to help you review your budgets, cut unnecessary expenses, and set new financial goals.
Dust Off Your Budget Review your income and expenses to see if your current spending habits align with your financial goals. Look for areas where you might be overspending and identify ways to cut back.
Declutter Unnecessary Expenses Subscriptions and memberships have a way of piling up. Review all your recurring charges—streaming services, gym memberships, or forgotten app subscriptions.
Organise Your Debt Repayment Strategy If you have outstanding debts, now is the time to reassess your repayment plan. Refinancing or consolidating debt might also be a good option to lower interest rates and streamline payments.
Refresh Your Savings Goals Whether you’re saving for a home, a vacation, or an emergency fund, revisit your savings goals to ensure they align with your current financial situation.
Review and Optimise Investments Spring is a great time to check in on your investments. Review your portfolio to ensure it remains diversified and aligned with your risk tolerance and long-term goals.
Shred Old Financial Documents Safely dispose of outdated bills and statements and consider switching to digital records to keep things organised and secure.
Check Your Credit Report Track down a free copy of your credit report and check for errors or fraudulent activity. If your score needs improvement, focus on paying down debt and making timely payments.
Adjust Insurance Life changes, and so do your financial needs. Review your insurance policies—health, home, car, and life—to ensure you have adequate coverage.
Spring is a season of renewal, and your finances deserve the same attention as your home. So, grab a metaphorical broom and start sweeping away financial clutter today! Do you need extra advice? Contact us and let’s see how we can help!