If getting on top of your finances is one of your New Year’s resolutions for 2024, don’t overlook your mortgage arrangements.  For most of us, our home loan represents one of the most significant financial commitments of our lifetimes, yet too few people review their mortgage regularly. If that’s you, don’t delay any longer – an overhaul of your mortgage could unlock significant savings, enable property improvements as your life changes, or give you an opportunity to move home.  If your current mortgage deal is looking to end in the next 12 months, you have options you can explore now: 

• If you’re on a fixed rate  

• This won’t effect your monthly payments right now as your rate is fixed and therefore your payments are fixed. 

• If your mortgage is due to end in the next 6 months 

• Give us a call to look at securing a deal ahead of your deal coming to an end. Some lenders can lock in deals up to 6 months in advance so it might be worth the discussion now, as rates could go even higher. 

• On a variable or tracker rate? 

• Contact us so we can discuss if you ditch, switch and save – and act quickly, as current rates could increase. This is especially likely for those on standard variable rate (SVR) mortgages.  

• Unsure of your options? 

• As a mortgage holder, it can be confusing and unclear what the changes mean to you, but if you’re unsure we’d encourage you to pick up the phone and get in touch with us to discuss your current situation so we can advise on the most suitable options.  

• If you’re struggling to pay 

• Avoid missing repayments without first speaking to your lender- they may be able to help. 
• With the cost of living increasing, many homeowners are struggling to meet their mortgage repayments. Missing a mortgage payment is known as falling into ‘arrears’. You want to try to avoid this as best you can, as it’ll have a serious impact on your ability to get credit in future. So, speak to us, or your lender as soon as you can to discuss your options. 

Speak to our team of experienced advisers who are available to provide personalised guidance tailored to your specific needs and circumstances[insert contact details]Risk warning: 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. You may be charged a fee for mortgage advice.