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Doctors Focused on Remortgaging In Recent Weeks

During the coronavirus outbreak, the Bank of England slashed the base rate to 0.1% — the lowest ever. However, experts speculate that this might get cut even further in the near future with the possibility of negative interest on the horizon. This has led to a surge in remortgages.

This article does not constitute advice. Professional advice should be taken prior to acting on any part of it. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

For those with a fixed-rate mortgage, your interest rate won’t change, but if you have a Tracker or Standard Variable Rate (SVR) mortgage, chances are, you’ll see a reduction.

Conversely, because of the low rates, savings accounts are not a profitable investment right now.

If you have the opportunity to remortgage – seize it!

Why should you remortgage?

The low base rate should affect interest rates and a low rate spurs more people on to think about remortgaging. It’s a great way to use some of the equity you’ve built up in your property and use that money for home improvements or whatever else you might need. Alternatively, you can reduce your monthly payments or perhaps even make overpayments, too.

There are some great deals on the market, even for fixed-rate mortgages. It’s important you find the right deal with minimal fees because there might be penalties with your current provider for early repayment.

Time to remortgage?

With all the options available, working with a mortgage broker will help you identify the right provider and products for you. It’s still a busy time for those in the healthcare profession, but it’s not a time-consuming process if you work with a professional broker.

Book a mortgage review

We provide our clients with a mortgage review that helps inform us what deals are available and right for you. We do all the leg work for you and have access to a wide range of products to suit dental and medical professionals, so you needn’t worry about missing out on a great deal because of your specific circumstances.

Our mortgage expert, Chris has a decade of experience working with lenders on behalf of clients and he’d be happy to virtually sit down with you to help you through the process. Contact us today.

Need help to secure a low-cost mortgage?
Mortgages | Buy to Let | Property | Mortgage Planning |

Dental & Medical Financial Services have been helping doctors and dentists with finding low-cost mortgages for your home and investment properties for over 25 years. Call Chris to discuss your options.

Tel: 01403 780 770


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