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  • Writer's pictureLucy Baldwin

Navigating the Changing Mortgage Landscape: Expert Guidance to Help You Stay Prepared

The recent news about mortgage rates hitting a 15-year high at 6.66%, coupled with the potential for mortgage repayments to increase by £500 per month for over a million people by 2026, highlights the volatile nature of the market. In such uncertain times, seeking professional mortgage and protection advice becomes crucial.

If you have plans to move home or are approaching a remortgage, it's highly likely that your monthly mortgage repayments will see a significant increase. However, with the myriad of complex deals available, we're here to assist you in finding the most suitable option for your unique circumstances when the time comes.

Plan Ahead and Seek Our Expertise

As mortgage and protection advisers, we understand the importance of planning ahead to assess how these rate increases may impact your financial situation. Identifying necessary adjustments now can better prepare you for the transition to a new deal.

Though your lender may approach you with various deals and opportunities to change your mortgage, we strongly recommend seeking our advice before making any decisions. With access to the whole of market and exclusive deals not available on the high street, we can review your existing arrangement and analyse mortgage offerings from the whole of market. Understanding your goals and specific circumstances will enable us to find the best-fitting mortgage for you amid these turbulent and rapidly changing times. Our aim is to ensure you make the most appropriate and well-informed decision for your situation.

Addressing Financial Struggles

We recognise that times can be tough, and if you're concerned about meeting your current mortgage repayments, we want to help point you in the right direction for assistance at the earliest opportunity.

Start by discussing your situation with your mortgage lender, making them aware of your struggles. They may offer measures to help, such as switching to interest-only payments temporarily or reducing monthly payments for a set period. However, it's essential to consider that such changes could lead to higher future payments or increased overall repayment. Careful consideration is necessary before taking any steps, and if you can manage your payments, it's advisable to continue doing so.

Simultaneously, we encourage you to contact us so we can address any concerns related to your mortgage, monthly payments, or potential impacts of further rate rises. Our expertise allows us to review your unique circumstances, provide comprehensive explanations, and help you make informed decisions that best suit your needs.

In these challenging times, we're here to support you every step of the way. Book an appointment with us, and together, we'll navigate the complexities of the mortgage world to secure the best possible outcomes for your financial future.

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