A new report just released clearly shows the majority of expats need to review their current mortgage deal.
Figures show the majority of expats do not review their mortgages when a fixed rate or term deal expires. Good news is there are plenty of good deals still available to meet the majority of expat needs.
Reasons to re-mortgage
- To save money.
- Fix repayments
- Raise extra cash for a project you have planned.
- Your current deal is ending soon
Reasons not to re-mortgage
- You have a penalty on your current mortgage which makes it prohibitive.
- You have had credit problems since taking out your current mortgage.
- You currently have an advantageous rate which may be fixed.
More and more people are looking for ways to reduce their monthly outgoings, one of the biggest expenses most people have every month is the mortgage payment. It may be a wise move to review your current mortgage to establish if it is still the best deal for you and you are not paying more than you need to. With Brexit looming nobody really knows what the outcome will be and any implications it may have on the mortgage market. If you are an expat with a mortgage which does not have penalties to change you may be very wise to see what fixed deals are on offer, better “safe than sorry” as they say.
This will not be the case for all expats, your current deal may well be very good, but it is most certainly worth checking it out.
Can we help?
If you would like to review your current mortgage or require a first-time deal please do make contact and one of our advisers will be happy to assist.