Rising rates dominated the news around housing and mortgage markets throughout 2022, setting the tone for an expected market downturn in 2023. After the latest Bank Rate rise in February increased repayments for those on variable rates, how will the mortgage and housing markets react? Up and down On 2 February, the Bank of England …
Why remortgage a house? We understand that mortgages and remortgaging can seem complicated especially when you hear terms like fixed rate, variable rates, tracker mortgages and so much more. So, what does remortgaging mean and why remortgage your home? Remortgaging is where you take out a new mortgage on a property you already own – …
Why Remortgage a House? Here are 5 reasons to consider. Read More »
One of the most asked questions when a clients’ current mortgage deal is coming to an end is: Will remortgaging be cheaper? Whilst there are many factors to consider when remortgaging such as interest rates, fees and terms of the new mortgage, Remortgaging can still save you money especially, if the alternative is to go …
Will remortgaging be cheaper? 6 things to consider! Read More »
You may think it is too early to start looking at your remortgage options but here at MDJ Mortgages we like to start the process as early as 7 months prior to your current mortgage deal ending. This is to ensure that we capture the best deal for you, your circumstances and your needs! 7 …
Follow our Remortgage Roadmap to ensure you get the best deal! Read More »
Remortgaging is a process where you switch your existing mortgage to a new lender. You usually do this when your current mortgage product has run out and you want to avoid going on the standard variable rate offered by the current lender, which is usually higher than other rates on offer. Remortgaging may allow you …
Variable mortgage interest rates, also known as tracker or discounted mortgage products, are mortgage loans with interest rates that can fluctuate over time. The interest rate on a variable mortgage is tied to an economic index, such as the Bank of England base rate or the own building society standard variable rate. As the index …
After the Bank of England’s Monetary Policy Committee (MPC) voted to increase Bank Rate to 3% in early November, households across the country are feeling the effects of pricier borrowing. Going up The rise of 0.75 percentage points, an eighth consecutive increase and the biggest since 1989, has a significant impact on borrowers. Future …
Fixed interest rates refer to the interest rate that is set for a specific period of time, for example a 2 year fixed mortgage. This means that the interest rate will not change during the period it is fixed for, regardless of any changes in market conditions. One advantage of fixed interest rates is that …
Have you thought about your re-mortgage options? Recent consumer research carried out by Legal & General Mortgage Club, found that 41% of respondents were considering not re-mortgaging, and instead staying with their existing lender and accepting the switch to a Standard Variable Rate (SVR). So why are people opting to stay? The research uncovered these …
The disadvantages of staying on a Standard Variable Rate (SVR) Read More »
Before securing your next mortgage deal, it’s important to reflect on what’s changed, and also what’s likely to change in the future. These are factors which could influence how much you need or want to borrow. As an adviser I can help you ensure your next mortgage fits both your current and future needs. After …
