Mortgage Advice when moving home

Moving home can be extremely tedious and a cumbersome task that demands a lot of patience and attention. It can become an arduous process especially when it comes to the most important aspect of securing the right mortgage. To ensure a smooth transition, it is crucial to get the right mortgage advice from trusted experts who are well-equipped on relevant information and advice to ensure a seamless process. There are many factors to be considered when seeking a new mortgage, whether porting an existing one, borrow more or reducing the amount you are borrowing. 

In a fixed-rate mortgage, you have the option to take your mortgage with you to your new property, which could be a great choice if you are satisfied with your existing rate and lender. It allows you to save money on early repayment charges. However, it is advisable to explore all the options available to you before making a decision in case you need to borrow more to avoid getting into a bit of a pickle down the road.

Lastly, if your objective is to reduce your mortgage amount, there is a possibility to switch to a new product with a lower rate. By reducing your interest payment, this option could help lower your monthly payments and help you accrue savings over the long-term. 

Ultimately, finding the right mortgage product can be a daunting task, but with the support of a dependable mortgage advisor, you can take comfort in knowing you are making an informed decision that works for your individual circumstance.