Time to review your mortgage

Jo Rix

Jo Rix

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ESTATE agents William H Brown in March and Wisbech are urging homeowners to consider reviewing their mortgage arrangements in the wake of a number of recent rate reductions by some of the UK’s biggest lenders.

According to the branch’s mortgage services consultant, Amanda Marshall, there could be an opportunity for borrowers to reduce the amount of interest they currently pay on their home loan.

“There have been a number of high profile rate reductions in the past few weeks from some of the UK’s largest mortgage lenders, in part fuelled by the launch of the Bank of England’s Funding for Lending scheme designed to incentivise banks to increase lending to individuals and businesses,” said Amanda.

“This is great news for those with existing mortgages who are interested in securing more attractive, fixed rate products providing long-term security in today’s uncertain economic environment.

“In light of the recent rate reductions, I would urge anyone who is interested in reviewing their current mortgage to come in for an appointment to see if there is a better rate available. Many of our customers are electing to switch to some of the attractive long-term fixed rates currently on offer to provide greater peace of mind,” said Amanda.

As part of its parent company Sequence, William H Brown has seen an increased interested from homeowners in re-mortgaging, especially as rates remain historically low. Indeed, in the first half of 2012, one in five of the mortgages that Sequence arranged were for customers looking to re-mortgage and gain more preferable rates.

“In light of recent events including the launch of Government incentives to banks and rate reductions, now is a great time to review your mortgage,” added Jo Rix.

“At a time when many household budgets are stretched to the limit, there is a real value in discovering whether homeowners could reduce monthly payments on their mortgage.”

To find out more contact William H Brown on 01945-464451 or 01354-654545.