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Published on : December 12, 2020 14:51

Edward Mellor Financial Services

Are you at the end of your deal?

When your current mortgage deal comes to an end you might be tempted to do nothing and simply move on to your lender’s Standard Variable Rate (SVR). However, by doing so you could risk your mortgage rate more than doubling.

SVR tends to be higher than the rates offered by other types of mortgage like a tracker. In January 2019, the average SVR was 4.9%, compared to 2.52% for a two-year fixed-rate mortgage. Over the life of the mortgage, this can mean paying thousands more interest than you need to.


Remortgaging to a better deal

Finding a new mortgage deal is a lot easier than getting your first mortgage. You don’t have the stress of finding a home, working with estate agents, negotiating contracts, or worrying about onward chains.

When it comes to remortgaging you could choose to stay with your current lender, and they might offer you something tempting to stay with them, but you don’t have to. Switching to a new lender may seem like a hassle you don’t need, but it’s worth the effort as it could mean you get a better rate. Whether you’re staying with your current lender or moving to a new one, just as with your initial deal it can pay to get advice to help find the most suitable mortgage for your needs. That’s where Edward Mellor Financial Services can help.


Create a financial plan to secure your financial wellbeing

The study clearly demonstrates how taking expert advice and constructing a tailored plan can significantly boost an investor’s financial well-being. Not a surprise, as the benefits associated with financial planning, are renowned and abundant.


Edward Mellor Financial Services


The value of financial advice comes in different guises and can include a better return on investment, peace of mind, accomplishing goals, and understanding opportunities. This combines to create future security, ultimately making sure you have enough money.

Discussing your financial objectives with us enables you to consider exactly what you want to achieve and establish clear goals that are both realistic and achievable. Regular financial reviews provide opportunities to monitor progress and adapt plans where necessary. Good financial planning can mean investments are tax-efficient by minimising both current and future tax liabilities.


It’s good to talk, we can help

This study once again reiterates the significant value that can be gained from seeking professional financial advice.

We can help manage the inherent volatility of markets, so your savings have the best chance of growth for the future – without giving you sleepless nights in the process and help make sure you aren’t taking too much, or too little, the risk with your money.

If you would like to discuss your options with an Edward Mellor Financial Advisor please do get in touch. Or you can call us on 0161 443 4830 or email [email protected] – we’re here to help.

Disclaimer: The value of your investments and any income from them can fall as well as rise and you may not get back the original amount invested.

HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes that cannot be foreseen.


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