Come to the York Property event this Monday 5th September York Marriott Hotel 6.00pm for 6.30pm start

Use the contact us Page to confirm your attendence and book your place

http://www.landlordtoday.co.uk/news_features/Stampede-to-re-mortgage-as-buy-to-let-lending-eases”

As well as the peace of mind of owning your home outright, paying off your mortgage more quickly can make sound financial sense by saving you thousands of pounds in interest payments to the lender.

Over the next few weeks we’ll publish tips to help you achieve this.

Tip  3
Stay informed: Once you get a mortgage, aside from making the payments, it’s easy to forget about it altogether. But staying up-to-date on interest rates and new products could save you a lot of money. Understanding the restrictions upfront (overpayment facilities and early repayment penalties etc.) may guide you to source an alternative product that better suits your needs. For example, with the certainty of the base rate increasing at some point in the future you may want to switch from your current tracker to a fixed-rate mortgage, or a switch and save option that allows you to convert from a tracker to a fixed without incurring any penalty charges.

NB Is your mortgage flexible or do you have unnecessary restrictions? Call us now for a free review. Your Mortgage Insight Broker can tailor a mortgage to suit your needs.

As well as the peace of mind of owning your home outright, paying off your mortgage more quickly can make sound financial sense by saving you thousands of pounds in interest payments to the lender.

Over the next few weeks we’ll publish tips to help you achieve this.

Tip  2
Make an annual lump sum payment: Use your tax refund or a windfall such as an inheritance or work bonus, and apply it directly to your mortgage. Check your mortgage documents to find out how often you can prepay and in what amount. Most mortgages allow you overpayments of up to 10% of the balance p.a. so there may be parameters on how much or how many extra payments you can make. This is also a good thing to check when initially arranging a mortgage. When arranging your mortgage through Mortgage Insight we will ensure there is always the flexibility you request to make such payments.

As well as the peace of mind of owning your home outright, paying off your mortgage more quickly can make sound financial sense by saving you thousands of pounds in interest payments to the lender.

Over the next 6 weeks we’ll publish six tips to help you achieve this.

Tip  1
Make small overpayments as early as you can after getting a mortgage because the loans are interest-heavy up front and the faster you can reduce that the better. In particular the first five to ten years are loaded the heaviest with interest and people are often disappointed to see that they’ve paid thousands but it’s only reduced the loan by a few hundred pounds. Paying down your mortgage fast in the early years is especially important if you didn’t put a large deposit down on your house. Because the interest is so heavy early on and the loan is only slowly reducing, early overpayments will help you grow your equity faster.

NB Check with your Mortgage Insight Broker to ensure your mortgage has the facility to ensure you don’t incur any penalty charges by doing so.

May 17th – York – 6.30pm start

May 23rd Hull – 6.30pm start

May 31st Scarborough – 6.30pm start

Please call 01723 353255 to register or use the contact us button