“Check Your Mortgage Rate!”- Interest Rates Fall Below 1%
This week, mortgage interest rates have fallen below 1%. Homeowners in England could reduce their monthly costs by comparing their mortgage rate, to ensure they are on the best rate possible.
Those who are on a variable rate could make further savings as they are likely to pay even larger sums for their mortgage and can take advantage of these low interest rates.
Those that are approaching the end of their fixed rate mortgage should start comparing rates six months early due to delays and pressure on banks and mortgage advisors because of the pandemic. If they don’t, they may find themselves in a position where they are paying much higher monthly rates.
Friends Capital Director, Paul Hancock, says “All property owners should urgently check their current mortgage rates. As interest rates have dropped to an all time low of below 1%, you could save thousands of pounds by switching providers or negotiating a better deal”.
However, property owners need to act quick as interest rates can change daily and you may miss out. If you give Friends Capital a call, we will compare the rates for you and offer a free no obligation quote.”
Paul goes on to offer further advice on reducing your mortgage rates. He states “If you’ve put money away during the pandemic, putting it towards your mortgage could save you thousands of pounds by reducing your loan to value ratio.”
If you are looking to compare your mortgage rates, Friends Capital offer a free consultation where you can receive a free, no obligation quote based on your circumstances.
Two Steps to Contacting Friends Capital
One of our friendly advisors will either call you back within 24 hours (usually the same working day), or will take details from you in order to best deal with your situation.
When you speak with us, we will take a ‘fact find’. At this stage we take basic details about your situation. We will then search the whole of the market and find you the best deal available.
If you are happy with the deal that we offer, we will then contact the lender for you and get you what is called a ‘decision in principal’.
If you’re happy with the decision in principal then we will secure this deal for you and deal with the application for you on your behalf.