Could Your Mortgage Be Costing You More Than It Should?

By Rob Starr MBE, CEO at Seico Mortgages

Whether you’re a homeowner with a fixed rate deal coming to an end, or simply wondering whether you’re on the best rate available, now is the time to take stock. With the right advice, there could be substantial savings to be made on your monthly outgoings.

Interest rates have been on a bumpy road. The Bank of England has made successive base rate cuts, bringing it down to 3.75%, and whilst further reductions remain possible, rates appear to be on hold for now. For anyone with a fixed rate deal ending in the next year, the time to act is now.

What Happens If You Do Nothing?

When your fixed rate ends, your lender automatically moves you onto their Standard Variable Rate (SVR). The average SVR currently sits at around 7% – far higher than the best fixed rates on the market. For most homeowners, that difference adds up to a substantial amount more every single month, for no reason other than not acting in time.

Why Planning 12 Months Ahead Makes All the Difference

The advice from Seico Mortgages is simple: speak to a broker up to 12 months before your current deal expires. The first six months are about planning – reviewing options, understanding the market and getting finances in order. Then, once inside the six-month window, a formal application can be submitted to lock in today’s rate and protect against further increases.

Locking in a rate doesn’t mean you’re stuck with it. Seico’s team actively monitors the whole market right up to the day your deal expires. If rates fall, they’ll move you onto a better deal – handling all the paperwork throughout. No broker processing fees are charged until after your case completes.

Specialist Knowledge for Every Homeowner

Seico Mortgages works with all homeowners – whether employed, self-employed, contracting or running a limited company. Their whole-of-market access covers specialist lenders who understand complex income structures such as day rates, dividends and retained profits, as well as straightforward employed income. Whoever you are, their brokers will only submit an application when confident it will be approved – protecting your time and your credit file.

Avoid Overpaying in the Future – Free Mortgage Monitoring

Seico also offers a free mortgage monitoring service, tracking rates from thousands of lenders around the clock and alerting clients whenever a better deal is available, alongside a monthly property valuation and equity update. This service is already trusted by over 400,000 homeowners across the UK, and the monitoring is free, forever.

To book an initial chat with a broker and find out your options, please email: mortgages@seicogroup.com

www.seicogroup.com
01273 778888