TIME LOOMING FOR A RE-MORTGAGE

09 June 2017

MORTGAGE rates have remained historically low for far longer than even the most optimistic homebuyer would have predicted.

While would-be buyers continue to take advantage of enticing terms being offered by the main lenders, provided they can piece together the necessary deposit, we are now seeing homeowners coming to the end of fixed rate tie-ins or special deals and pondering their next move.

In the majority of cases, the next step will be reverting to the lenders’ standard variable rate – unless you are pro-active and look to re-mortgage.

It may take some time and effort on your part but chasing up alternatives could pay dividends, as the standard variable rate will be higher than any special deal secured a few years ago.

Some borrowers may, of course, prefer to adopt the standard variable rate with no tie-ins, rather than lock themselves into another package for several years.

These people are usually looking for flexibility due to personal circumstances and, looking ahead, want to steer clear of the hefty repayment charges which tend to accompany early opt outs.

But legal firms enjoying membership of the Tayside Solicitors Property Centre are well placed to provide impartial and independent mortgage advice as we edge towards summer so it makes sense to tap into their well of knowledge.

They will assess the various options and provide a guiding hand going forward if you are in the final months of a current mortgage arrangement.

Bear in mind that a lender may be prepared to consider offering an existing client a new, special rate at the end of any preferential period in a bid to retain their business.

Make that your starting point so you are well positioned to compare and contrast.

And remember, your solicitor will provide valuable expertise in weighing-up the options.

2021

2020

Tayside housing market back with a bang 2020-12-10 Digital Guide 2020-05-27

2019

The property market across Scotland - Quarter Two 2019 by SPC Scotland 2019-10-16 LORD PROVOST OPENS NEW-LOOK CENTRE 2019-09-17 The Dundee property market 2019-06-24 A 427 MILLION BOOST FOR THE HOMES MARKET 2019-01-21

2018

Budget Proposals to the ADS Rate 2018-12-18 BUYING OR SELLING GET THE FACTS 2018-08-24 BUYING INTO LIFE ON THE WATERFRONT 2018-08-23 As moving day looms dont panic just prep 2018-05-17 THE BEST OF BOTH WORLDS FOR HOMEBUYERS 2018-04-03 HOME COMFORTS FEND OFF BEAST FROM THE EAST 2018-03-07 V&A DATE MILESTONE FOR THE WATERFRONT 2018-03-02 FLAT SALES EDGE TOWARDS £100 MILLION 2018-01-23 PROPERTY SALES PUSH TOWARDS THE £440 MILLION MARK 2018-01-08

2017

FESTIVE GREETINGS FROM ALL AT THE TSPC 2017-12-19 PUTTING DUNDEE ON THE MAP 2017-11-15 TIME TO BRING YOUR HOME TO THE MARKET 2017-11-01 AUTUMN IS A GOOD SEASON FOR SELLING 2017-10-17 HIGH PROFILE OPTION FOR TOP PROPERTIES 2017-10-09 MARKETING YOUR PROPERTY TO THE MAX 2017-08-21 DO YOU LIKE TO BE BESIDE THE SEA? 2017-06-15 TIME LOOMING FOR A RE-MORTGAGE 2017-06-09 HAS THERE BEEN A BETTER TIME FOR A HOUSE SALE 2017-05-26 TIME TO PUT YOUR FLAT ON THE MARKET 2017-05-04

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