This article was published on Thu 27 May 2021. At the time of publishing, this article was true and accurate, however, over time this may have changed. If you have any concerns about this please contact us

Are you paying more for your mortgage than you need to?

Thu 27 May 2021

Many homeowners in the UK are potentially paying thousands of pounds extra on their mortgage each year by not knowing what mortgage rate they’re on. Are you one of them?

If your discounted or fixed rate deal has ended and you haven't remortgaged then you’re likely to be on your lenders Standard Variable Rate (SVR) and could be paying a lot more than you need to.

Make sure you’re on the right deal for you
With the current market conditions, you could take advantage of the low fixed rates on offer by remortgaging now. If you’re on your lenders SVR, or are one of the thousands of borrowers whose fixed and tracker mortgages expire in the coming months, then you could save money by remortgaging to a better deal. It’s worth remembering that if your current deal hasn’t expired, then you might have to pay an early repayment charge, plus a possible exit fee if you remortgage.

Don’t need the hassle?
The subject of mortgages can feel complicated enough as it is, so trying to arrange one by yourself whilst juggling all your everyday demands can feel daunting — which is where the Mortgage Advice Service, provided by Tenet Mortgage Solutions Limited can help.

Their expert mortgage advisors have independent access to the mortgage market and will guide you through the process from enquiry to completion.

Find out more


A mortgage is a loan secured against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. You may have to pay an early repayment charge to your existing lender if you remortgage.

PMGI Limited, trading as Police Mutual is authorised and regulated by the Financial Conduct Authority. Financial Services Register No.114942. Registered in England & Wales No. 1073408. Registered office: 55 Gracechurch Street, London, EC3V 0RL.

 


Type of article: Articles
Category: Owning a house

Return to News and Blog