Name *
Email *
Telephone *
Best call back time:
Data Protection Declaration

New Mortgage Solutions and First Complete Ltd will process all information in accordance with the Data Protection Act 1998 and it will be treated as private and confidential now and in the future. The only exceptions to this will be when the law requires us to disclose information or, with your consent, where disclosure is necessary when arranging or servicing your mortgage or protection contracts.

To fulfil our regulatory obligations, we will retain copies of your records for no longer than is necessary or for the duration of any contract you may enter into. You have the right to inspect these records at any time.

Our Future Relationship

Our ongoing business relationship with you is important and we would like to be able to contact you by telephone, post or email from time to time to review your mortgage and associated protection product arrangements and introduce other services that may be of interest to you from ourselves or our associated companies.

To fulfil our regulatory obligations, we will retain copies of your records for no longer than is necessary or for the duration of any contract you may enter into. You have the right to inspect these records at any time.

Need more info?
Request a call back

< Back to all posts

Could you be losing thousands by not switching your mortgage?

8th April 2016

Findings in a recent HSBC SVR report (press release issued 18 November 2015) show that borrowers are not switching to a new mortgage deal once their existing deal comes to an end. As many as 1.9 million people are paying standard variable rates, the interest rate set at the mortgage lender’s discretion.

With mortgages remaining low in early 2016, there are some really low deals for both variable rate mortgages and fixed rate mortgages of between 1% and 3%. These deals tend to only last for a few years, and at the end of them the mortgage holder is automatically switched back to a standard variable rate (SVR). With the average SVR currently set between 4% and 5%, this is quite a hike in monthly payments, and yet around a third of borrowers are failing to switch to a new deal, potentially costing them thousands each year.

It is important to start thinking about your deal approaching its end a few months before it is due to finish to avoid paying over the odds for your mortgage. At New Mortgage Solutions we make sure we notify you as your loan is coming to an end so we can talk to you about finding the next deal to suit your situation.

Check out our Guide to Mortgages to find out the different loan-types available.

Contact us for a free initial no-obligations chat today on 020 8295 2935

SIGN UP TO RECEIVE USEFUL INFORMATION AND MORTGAGE NEWS: