If you have a mortgage, review it. If you are already on a fixed rate for a reasonable term,
you probably do not need to take further action. However, if you are on your lender’s Standard
Variable Rate, you face an increase in your monthly costs in the event of any mortgage rate increase.
The easy solution is to talk to your lender about changing your mortgage over to a fixed rate. This
can usually be done for little or no cost, and for most people will also mean they will immediately
pay less than they were paying. For example a switch to a fixed rate can mean your paying a rate
which is 2.0% or so lower than you are paying currently. This can result in significantly lower monthly payments. Check it out.
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