with Hadlow Edwards

What does your mortgage future look like?

The last year has seen cost of living at the centre of many discussions. Mortgage costs are no exception here and we have seen both rate increases and reductions over this time.

Homeowners who might have been on a “tracker deal” (following the Bank of England Base Rate or their current lenders Standard Variable Rate) will have seen their monthly repayments steadily increase, almost every month.

However, our clients are still thinking and talking about moving home, extending, or modernising the interior. We are also still helping many young people buy their first home.

What are the next steps?

Understanding your options when considering a new mortgage is key to getting the right deal for you and your future. We continually meet mortgage borrowers who are looking at the next step. We sit down and work out what you can do now and in the future. This will allow you to then either view properties in confidence of what you can afford or to meet builders and architects safe with the knowledge of what your affordable budget is.

Reviewing your current mortgage rate, the same way you review other household finances, could also be beneficial. If you have not reviewed your mortgage deal in the last 18-24 months, we could help reassess your affordability and the feasibility of reducing your mortgage term with the aim to be mortgage-free earlier than planned.

Those who are wanting to help their loved ones onto the property ladder can benefit from joint meetings and are a great way of finding out and understanding what options are available for all parties, especially with the term “bank of Mum and Dad” being referred to more now than ever!

Looking forward to your new home? Looking for your first home is an exciting step in the adulthood journey. My advice to first time buyers is to discuss your mortgage options before you begin viewing properties with a mortgage consultant who is able to look at a wide

By Jon Peatfield of Hadlow Edwards Wealth Management Limited hadlow.edwards@sjpp.co.uk Tel: 01978 311 611 www.hadlowedwards.co.uk

range of mortgage lenders to get the very best deal that’s out there for you. Don’t restrict yourself to just looking at banks or a single lender’s options - each lender is different in their approach as to how much they will let you borrow. We can help match you to the right lender and review your budget planning moving forward to ensure you are comfortable with your future costs.

If you would like to know more about your options, then please do not hesitate to call 01978 311611 or email jonathan.peatfield@sjpp.co.uk

Your home may be repossessed if you do not keep up repayments on your mortgage.