Call us today: 0345 450 4660
BLOG ARTICLE

Reviewing your mortgage deal could save you money

Submitted 28/03/2019
Back to blogs
People sitting having a discussion
28 Mar

On Thursday 2 August 2018 the Bank of England’s Monetary Policy Committee (MPC) raised interest rates by 0.25 from 0.50% to 0.75%.

It’s important to regularly review your mortgage, as it can often make sense to transfer to a new deal - or even a different lender. Your decision to transfer will of course depend on your individual circumstances, and the current rate you are paying.

If your lender plans to increase its Standard Variable Rate (SVR), or already has, moving onto a new mortgage deal could save you money.

To discuss your mortgage needs, please do get in touch. 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

From Our Blog

Stay up to date with us

Climb to higher interest rates
A guide to capital gains tax

When you sell an asset that's increased in value, you might face a tax bill that catches you off guard.

Read More >
Senior man checking financial documents and calculating
How to get a buy-to-let mortgage as a first-time landlord

Becoming a landlord can feel daunting when you're starting from scratch, but understanding the mortgage process makes everything clearer.

Read More >
Happy woman using phone covered by blanket sitting on a couch at home
How to choose the best mortgage term: 15, 25, or 30 years?

Choosing your mortgage term is one of the biggest financial decisions you'll make when buying a home.

Read More >
Girl wearing glasses plans to spend money
Everything you need to know about pound cost averaging

If you've been putting off investing because you're worried about timing the market perfectly, pound cost averaging could be perfect for you.

Read More >
BROWSE MORE

Make an Appointment

Send a request and we’ll schedule a meeting

We will not collect your data for marketing purposes.

Follow Us

Think carefully before securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage.

Representative example A mortgage of £225,134 payable over 24 years, initially on a fixed rate until 30/09/26 at 4.88% and then on a variable rate of 6.99% for the remaining 22 years would require 26 payments of £1328.29 followed by 262 payments of £1,593.54. The total amount payable would be £453,042 made up of the loan amount plus interest (£226,909) and fees (£999). The overall cost for comparison is 6.8% APRC representative.

The information on this website is for the use of residents of the United Kingdom only. No representations are made as to whether the information is applicable or available in any other country which may have access to it.

Moneysprite is a trading name of Moneysprite Limited which is an appointed representative of The Openwork Partnership Limited which is authorised and regulated by the Financial Conduct Authority. The Openwork Partnership is entered on the Financial Services Register under reference 408285 Moneysprite Limited, registered company in England and Wales No. 5605928. 18th & 19th Floors, 100 Bishopsgate, London EC2N 4AG.

Approved by The Openwork Partnership on 01/12/2025.

Copyright 2021 Moneysprite - Mortgage Broker Website Design & Development by WEBPRO Mortgage.