Mortgages - Why pay more?

It is incredible to believe, but the fact is, that mortgagors are paying £billions more each year than they need to! Why is this? We believe that there are several possible reasons:

1. Most mortgagors believe that their mortgage company must be competitive or they would not be able to remain in business. Not so! It is exactly this attitude that many Banks and Building Societies depend upon to keep their rates so high.

2. Many mortgagors cannot be bothered with the hassle they believe is involved in changing mortgage provider. If you were to scour the market yourself without knowing which providers are most likely to provide the savings you are looking for, we might agree. However, as a selected third party will be doing the searching for you, and in some cases they have agreed exclusive lower rates with some providers, your time will not be wasted.

3. Many mortgagors believe that the initial costs and charges will outweigh any savings made by switching mortgages. When you consider that every 1% of interest saving will reduce costs by £83.83 per month in the first month alone, on a £100,000 mortgage, you can see the potential for savings. In any event charges and potential savings will be identified before you proceed.