Get an end-of-year mortgage deal
Take some time out now from writing the Christmas cards to renegotiate your mortgage and you could end of saving hundreds – or thousands – or pounds.
Mortgage lenders who are keen to hit their annual sales target are slashing rates to attract homeowners who are remortgaging.
At the same time, standard variable rates (SVRs) on mortgages are now at their highest levels since 2009, according to Moneyfacts, with fixed rates also set to increase.
So if you’re coming to the end of your fixed-rate mortgage deal – or it’s already ended and you’ve reverted to your lenders’ SVR, now is the time to set up a new deal when you can pick up a bargain from lenders who are keen to fill their books before the Christmas break.
TSB and Barclays are amongst the high street heavy-hitters who’ve already shaved the interest rates on their five-year deals. TSB has taken off 0.35% for borrowers who’ve built up a 40% deposit, with a fee of £995.
Barclays is offering a similar deal, for a £999 fee.
Other lenders are offering substantial cashback deals to tempt new customers to switch: one-third of new mortgages now pay cashbacks.