New Year – New Mortgage?

Thursday 05 January 2017 | 02:25 PM

Many people will enter 2017 with renewed enthusiasm and resolutions to lose weight, drink less, exercise more etc. All of these aims should be applauded, but financial health and wellbeing should also be at the top of the New Year agenda.


Newspaper headlines often focus on areas such as utility bills and costs of shopping, areas which can produce a gradual saving each month over time. Many of these ideas are also targeted by the price comparison sites as they offer small savings in a quick and easy manner.


A mortgage review though can produce significant savings both month on month by lowering repayments and long term by securing a lower rate and possibly reducing the mortgage term. To many, it may seem a daunting prospect, however, by using a mortgage broker, much of this pain and time can be removed. After an initial no obligation conversation in the region of 45 minutes, a good quality broker will know whether they are able to assist and also broadly how much you might be able to save or perhaps raise capital to clear credit commitments, fund a Buy to Let, help children etc.


In addition, they will deal with all of the paperwork and the lender so that you don’t have to be too concerned, and your time investment is kept to a minimum.


Interest rates are currently at all-time lows with many experts now suggesting that interest rates may be about to rise. So as we enter a potentially volatile period for the UK financially why not take this early opportunity of a no obligation mortgage review to establish your options and make this one of your New Year’s resolutions?


Paul Hardingham and Tony Ibson are Mortgage and Protection Advisers at Innovate Mortgages and Loans. Both have over 20 years of experience advising individuals and businesses across the North East of England. They can be contacted for bespoke advice at or or call 0191 223 3514.


Think carefully before securing other debts against your home.


Your home or property is at risk of repossession if you do not keep up repayments on a mortgage or other loan secured on it.


Innovate Mortgages and Loans is a trading style of Innovation Financial Management Ltd.