Get mortgage fit in 2021?

Man reading laptop screen

Millions of borrowers are likely to paying the lender’s default standard variable rate (SVR). Is this you? If so, now is the perfect time to consider a remortgage.

What is your mortgage rate?

Do you know what type of mortgage you have and when your rate ends? If not, check. If it is a fixed, tracker, or discount it is vital that you review your options before the variable rate is applied.
The variable rate will always be the highest in the market and you could be paying over the odds without even realising. Recent case studies have shown that you can save between £50-200 per month depending on the loan amount and term remaining.

Why do people pay the variable rate?

“I didn’t realise my mortgage product had ended” – your lender should have let you know, but always remember to make a note of the end date of a product. Set a reminder for three months before to contact an advisor to help review your options.

“It’s too much hard work to find a new deal”- the mortgage market can be overwhelming as there are so many options. Using a mortgage broker to help, saves you time and once you know what savings are available, you can decide what to do with them!

“My lender contacted me, but I didn’t understand”- mortgage jargon can be confusing, but take the time to read any correspondence, seeking clarification from your lender or an advisor if you are unsure.

Should you remortgage?

Without understanding your circumstances and the options available, it is impossible to know if a remortgage is right now. What is important, is that you should regularly review your mortgage. Mortgage rates are currently at record low levels, so it is the perfect time to review whether there is a more competitive rate available.

Do I have to change my instance policies?

You don’t have to do anything, but it is important that you review your protection at the same time. Make sure you understand the provisions, what you are covered for, and whether they are still suitable. If you have had any changes to your family or occupation, there may be a need to make changes.

We’re here to help

To discuss your remortgage options and to see if you could save money, please call our team of advisors. Rest assured we are here to help if you have any questions about your mortgage or your protection requirements.

We're here to help

Your local independent experts

  • Unbiased advice with access to the entire mortgage and insurance marketplace
  • We offer a free no obligation consultation over the phone or in person
  • We are open six days a week

Call us on 01780 480600

Open today until 6pm

Get in touch


Choice Mortgages have provided me with a fantastic consultative service for over 10 years. I've had absolute peace of mind that everything related to my mortgage, home insurance, life insurance and critical illness insurance has been in hand. Nicki and the team have always given me informed guidance and I've had every confidence in their recommendations and products. A first-class service that I wouldn't hesitate to recommend.

A first-class service that I wouldn't hesitate to recommend.

Emma and her daughter