Manchester Mortgages were contacted by a new client in Didsbury who wanted to review their existing mortgage deal with the NatWest as they felt that they were paying too much but were also potentially wanting to move within the next 18-24 months to ensure that their 9 year old daughter was able to go to their preferred school of choice.
Our industry experienced mortgage adviser met with our client at a time and place convenient to them working round their busy work schedule. One was a Deputy Head Teacher the other a Civil Engineer.
Our adviser got a full understanding of what our clients financial situations was what their potential borrowing would be should they wish to move in the near future and more importantly what the monthly mortgage payment would be as they would expect to borrow and additional £100,000 to move to the area they wanted.
Our adviser quickly established that our client was paying far too much on their existing mortgage with the NatWest and by remortgaing away from the NatWest they could save £125 per month or continue to pay the same amount and reduce their mortgage term by 4 years saving £1000’s in interest.
It was decided as they were fairly adamant that they would want to move with the next 18 months they did not want to be tied to a particular lender when they did move and be able to consider all their options.
Our Adviser was able to recommend moving their current Mortgage to the Nationwide Building Society who would move them onto a tracker rate mortgage and would save them in excess of 2% on the current rate they were paying with the NatWest.
The Reason for moving the mortgage to the Nationwide Building Society was that they would not be tied to the lender during the tracker rate period and could move their mortgage at anytime without any penalties. The new lender also provided a Free valuation of their property, did not charge an arrangement fee and also paid the Legal Costs for transferring the Mortgage over to them.
Our clients were naturally delighted knowing that they were saving money immediately and also had kept all their options open when they wanted to move.
Why not take the opportunity of a FREE review of your current mortgage arrangements and see if they provide you the opportunity to keep all your options open.
Contact us on 0161 706 0242 and speak to one of our industry experienced mortgage advisers.