Coming to the end of your fixed rate or initial rate mortgage?

This post discusses your options and is not financial advice; any questions, please get in touch. (It doesn't cover changing the terms of your mortgage.)

First, look at your current lender's variable rate: it is the rate your mortgage moves to when the initial rate ends. Some lenders' variable rates are a lot higher than their initial rates, but not always, so it's worth checking.

Some clients stay on the variable rate while they assess their options. Apart from that, the main options are variable (such as tracker) and fixed rate mortgages.

Tracker products

When looking at any product, consider the total cost of borrowing, including arrangement, valuation, legal and broker fees. Shorter products may mean paying some of those fees again sooner.

Fixed rates

Some clients choose shorter fixes, while others looking for stability choose longer terms, which also spread fees over a longer period.

A benefit of working with us is that we look at all the options with your existing lender as well as remortgaging to a new lender. We present our findings, discuss the pros and cons, and you make an informed decision.