{"id":606,"date":"2022-02-14T10:45:12","date_gmt":"2022-02-14T10:45:12","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/quilter\/?p=606"},"modified":"2022-02-14T10:45:16","modified_gmt":"2022-02-14T10:45:16","slug":"dont-pay-over-the-odds-on-your-mortgage","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/quilter\/2022\/02\/14\/dont-pay-over-the-odds-on-your-mortgage\/","title":{"rendered":"Don\u2019t pay over the odds on your mortgage"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Even in a world of low interest rates, you could end up\npaying thousands more on your mortgage if you forget to remortgage when your\nfixed rate, variable or tracker deal approaches its end.<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>This is because you will automatically be placed on your\nlender\u2019s Standard Variable Rate (SVR) when your deal ends, which can be 2% to\n5% higher than the Bank of England base rate and much higher on average than\ncurrent fixed mortgage rates. By comparison, data at the beginning of December\nrevealed that the best five-year fixed rate for remortgagers was just 0.99%<sup>1<\/sup>.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Never remortgaged?<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Despite the potential savings, nearly half (49%) of\nhomeowners have never remortgaged their property, even though they had been\nmaking repayments for over 13 years on average<sup>2<\/sup>. This is according\nto a survey from Barclays, which also revealed that nearly a third of the\nrespondents didn\u2019t understand what an SVR is.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Don\u2019t lose out<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Recent analysis<sup>3<\/sup> suggests that a homeowner could\nsave over \u00a35,000 across a two-year period by remortgaging from their lender\u2019s\nSVR to a fixed rate deal. If you\u2019d like assistance in assessing your own\nremortgage options and potentially cutting your monthly repayments, get in\ntouch.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>1<\/sup>Moneyfacts, 2021<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>2<\/sup>Barclays, 2021<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>3<\/sup>Experian, 2020<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong><em>It is\nimportant to take professional advice before making any decision relating to\nyour personal finances. Information within this article is based on our current\nunderstanding and can be subject to change without notice and the accuracy and\ncompleteness of the information cannot be guaranteed. It does not provide\nindividual tailored investment advice and is for guidance only. Some rules may\nvary in different parts of the UK.<\/em><\/strong><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Even in a world of low interest rates, you could end up paying thousands more on your mortgage if you forget to remortgage when your fixed rate, variable or tracker deal approaches its end. This is because you will automatically be placed on your lender\u2019s Standard Variable Rate (SVR) when your deal ends, which can [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":598,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/606"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/comments?post=606"}],"version-history":[{"count":4,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/606\/revisions"}],"predecessor-version":[{"id":610,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/606\/revisions\/610"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media\/598"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media?parent=606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/categories?post=606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/tags?post=606"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/hd_content_source?post=606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}