Mortgage review time as 800k borrowers overpaying their mortgages

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It might be time to consider a mortgage review as news has emerged that the Financial Conduct Authority estimates that some 800,000 homeowners are currently overpaying for their mortgages and that they could be save up to £4,000 each per year.

mortgage review with Mortgage Success of Manchester

The Financial Conduct Authority advises that homeowners should not get complacent with their current lender and become used to paying high amounts for their mortgages and that they should seek new deals and remortgages. Similar to how consumer group Which? promotes the notion that loyalty with car and home insurance does you no favours, the FCA is encouraging home owners to conduct a mortgage review and make the most of any introductory offers and better deals with other lenders where possible.

Mortgage Success – Whole of Market Mortgage Broker

This is where Mortgage Success can really shine. As a whole of market broker we can research the UK mortgage market and find the best deal for our customers circumstances.

We are not tied to any lender, lending group or anyone else and this is crucial for the borrower as with a whole of market broker, we simply find you the best mortgage for you

Bad Credit? Dont put off a Mortgage Review

Many customers of ours say “oh, I wish I had come to you sooner” because they think that their bad credit situation will prevent them getting a mortgage only to find out that they delayed for no reason and could have started saving money earlier.

Dont let the fear of rejection put you off having a mortgage review consultation with us.

As you can probably tell from our site, we do a great deal of cases where customers have adverse credit from arrears, Defaults/CCJs, right up to Bankruptcy. See Bad Credit Mortgages for more on this.

We will be able to tell you what lenders we think you may be suitable for and an idea on rates before proceeding.

Mortgage Prisoner? Give us a call

Many homeowners became trapped in their mortgage as a result of the ‘credit crunch’ financial crisis in 2008.

Many homeowners saw their mortgage rates and affordability terms change dramatically and many even had their mortgages sold off to private investors as part of the bailing out of various banks and they were left with no choice but to accept terms given to them.

Being a mortgage prisoner is very stressful and can have an awful effect on the household finances but we can help mortgage prisoners.

The FCA estimates there are some 30,000 homeowners who are stuck on expensive rates who can’t switch, but worryingly admits there are another 120,000 homeowners whom have mortgages that have been sold off to investors who don’t offer mortgages and are therefore prisoners.

There is no time like the present when it comes to getting a mortgage review as we have access to lenders who can lend up to 6x your income and we have access to lenders who will take a manual approach to underwriting.

There are things we can do to try and increase your lending capacity in order to help you move on from being a Mortgage Prisoner so please do get in touch and we can discuss your circumstances.