The Changing Face of Mortgages

In the past few months we have seen the first increase in interest rates for over 10 years. So it might be a good time to start considering the changing face of mortgages, and whether or not yours is still the best option. Now before we get all 'fire-and-brimstone' about it, it's important to remember that interest rates are still considered to be incredibly low, especially to those of you who took out mortgages when interest rates were around 5 or 6 percent (or even higher than that). However, anyone who bought a house more recently, and is perhaps coming to the end of an initial fixed rate period, will surely be watching with baited breath. Especially since Mark Carney, Bank of England governor, suggested that the rate is likely to rise again at least twice over the next two years.

Whether you're interested in a first mortgage or renewing an existing one, it's important to consider all the options and not to rush your decision. Your mortgage will likely be with you for a good few years and you'll need to consider things such as disposable income, job security, career plans and preferred lifestyle. Our advisers are on hand to guide you through the process and help you navigate the thousands of available mortgage options. Our flexible approach means you can either drop by our Earlsdon office or we can come out to visit you at home.

If you have any questions or queries regarding your mortgage, feel free to pop-in to our Earlsdon office. Alternatively, you can email us at stuart@cotswoldfs.co.uk or call on 02476 920029.