And so another year begins, have you made any resolutions?\u00a0\u00a0If not, make one to review your mortgage!\u00a0\u00a0Now that the election is out of the way and we have a \u2018clearer\u2019 route to Brexit, lenders will look at their strategies for the next few years and I\u2019m sure somewhere in those plans will be reviewing their rates and offerings to maximise profitability.<\/p>\n
![\"key](\"https:\/\/www.impactsf.co.uk\/wp-content\/uploads\/2020\/01\/key-in-door-300x229.jpg\")
In the meantime, one lender has already reduced a 5 year fixed rate to under 1.5% with free valuation, free legals on remortgages (\u00a3300 cashback for purchases).\u00a0\u00a0There will be other similar deals available, and terms obviously apply, but the fact that these rates are so low so early in the year is impressive!<\/p>\n
Technology will play a huge part in the mortgage market over the coming few years.\u00a0\u00a0I\u2019m sure mortgages will be available through a full \u2018comparison type\u2019 model shortly.\u00a0\u00a0But it does not necessarily mean it\u2019s the right option for you.\u00a0\u00a0As with some current comparison sites, some of the options provided are those that pay a referral fee to the site and may not be the most suitable for the end user (although they might pay the highest referral fee to the providing site!).<\/p>\n
We understand that a straightforward customer who fits the high street with 2.4 children, lived at their current address for ten years, has consistent employment, no debts and wants to remortgage pound for pound, will be an ideal customer for the technology model.\u00a0\u00a0However, not everyone will fit this model and thus the human touch will be required for some years yet.<\/p>\n
And of course, this is all relying on you having a decent credit score.\u00a0\u00a0You can\u2019t turn on the TV without seeing an advert for your free credit score!\u00a0\u00a0This is an assessment on all available financial information and calculates a ‘score’ for the lender.\u00a0 It also includes a search on your overall credit history covering, in the main, all of your financial transactions over the last few years.<\/p>\n
Most lenders credit score applications to try and assess your ability to repay any loans.\u00a0 Nearly all financial institutions will register a credit search against you.\u00a0\u00a0So, if you have recently updated your car insurance, home insurance, taken out a mobile contract and just got a new credit\/debit card, that\u2019s probably four searches in a short amount of time!\u00a0\u00a0So even before starting the full mortgage process, have a chat with a professional adviser and seek their advice what to do and when, to enable the best chance of getting a mortgage first time.<\/p>\n","protected":false},"excerpt":{"rendered":"
And so another year begins, have you made any resolutions?\u00a0\u00a0If not, make one to review your mortgage!\u00a0\u00a0Now that the election is out of the way and we have a \u2018clearer\u2019 route to Brexit, lenders will look at their strategies for the next few years and I\u2019m sure somewhere in those plans will be reviewing their […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"slim_seo":{"title":"Are you financially prepared for the year ahead? - Impact Specialist Finance","description":"And so another year begins, have you made any resolutions?\u00a0\u00a0If not, make one to review your mortgage!\u00a0\u00a0Now that the election is out of the way and we have a \u2018cl"},"footnotes":""},"categories":[1],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/9354"}],"collection":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=9354"}],"version-history":[{"count":0,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/9354\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=9354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=9354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.impactsf.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=9354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}