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January 2013 Newsletter – Do You Want To Save Some Money This Year?

February 7th, 2013 | No Comments | Posted in Monthly Newsletters

The Mortgage Store - Do You Want to Save Some Money This Year?

January is often a time when we all look to tighten our belts and if you are looking to save money in the coming months of 2013, there may be aspects of your finances that could help you save some money.

If you currently have a mortgage on a standard variable rate (SVR) or if your mortgage deal has come to an end, now might be a great time to re-mortgage. Many lenders have recently reduced their interest rates on new products particularly on mortgages with low loan-to-values. There are a number of reasons for this reduction in rates including the announcement in July of the Funding for Lending scheme in which the Bank of England and Treasury offer incentives to banks to boost lending and lower interest rates.  

A number of lenders increased their SVR last year, meaning your monthly mortgage payments would increase if you are a borrower on SVR with these lenders. There are an estimated 1.6 million customers* that have been affected by these increases. If you have been affected by an SVR increase, moving your mortgage could save you money. While not all lenders have made an increase some lenders could make a change at any time. Lenders could also have the option of increasing the cap on how much they can increase their SVR by, so it is also worth checking your mortgage contract to see if this may apply to you.

You could also reduce your monthly out-goings by reviewing your Buildings & Contents insurance. We offer buildings and/or contents cover through an extensive panel of insurers. This means that we can fully guide you through the benefits of different policies and assist you in choosing the most appropriate policy to meet your requirements & budget effectively.

It is always a good idea to keep your finances under review to see if you have the best products for your circumstances. Thankfully here at The Mortgage Store we provide a full advice service and guide you through all the options available, so why not contact us today?

*Figures from Barclays

Please note that you should never cancel an existing policy prior to taking out a new one without fully investigating the generic and individual elements that are covered.

For further details or to arrange an interview please use our ‘Contact’ Page.

For a PDF version of this newsletter please click the PDF icon: The Mortgage Store Newsletter January 2013 PDF

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  • The Mortgage Store (TMS Ltd.) is a firm of professional Advisers who specialize in all types of Mortgages and Related Insurance Services.


    For Free Advice on Mortgages and related Insurance Services or Use our CONTACT Page to send us a message


  • FEES:
    We are normally only paid by way of commission from the lender, Alternatively you can choose our Fee Only option where you pay us a fee instead and we rebate our lender commission to you. Depending on your circumstances there might be an additional fee charged for mortgage advice, and if so it will not exceed 1% of the mortgage amount.
    Your home may be repossessed if you do not keep up repayments on your mortgage.