Are you paying too much on your mortgage?
One 77 Mortgages | Blog
by davesavage
3y ago
Over recent years data has shown that many mortgage borrowers are unnecessarily paying in the region of a staggering £15bn+ of interest annually by remaining on their lenders SVR (Standard Variable Rate) rather than switching to more competitive remortgage rates and products. Data has revealed that over 2 million borrowers (25% of all borrowers) had fallen into the SVR trap and had subsequently been paying a higher rate for 6 months or longer. For example, it is estimated that if the average mortgage loan is around £173k and the average rate of interest is 4.39%, then borrowers who have droppe ..read more
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Remortgage for a Buy To Let investment in Weston-Super-Mare
One 77 Mortgages | Blog
by davesavage
3y ago
We were recently contacted by our client who had their original mortgage deal arranged by a high street lender. The deal was a standard residential mortgage for a property which they had owned and lived at in Weston-Super-Mare. However, having recently moved in with her partner, and with the present deal coming to a close, it was now time for her to remortgage and transfer the product from a standard residential mortgage to a buy-to-let; being as she decided to keep the house as an investment for the future. Being as the situation was of an urgent nature and speed of turnaround was of the esse ..read more
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Wondering If You Should Use a Mortgage Broker?
One 77 Mortgages | Blog
by davesavage
3y ago
We are often contacted by a number of clients who have invariably either been let down by the high street lenders or have been offered an ‘off the shelf’ product that is not ideally what they were looking for. One such case is when we were recently contacted by a client who had visited our website. They had been let down by both a national mortgage brokerage, and a number of high street lenders – including their own bank. Being a busy working individual they were surprised when we offered to call them over the weekend at the time of their choosing, having not been able to meet or speak to an a ..read more
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Are you adequately protected should the unexpected happen?
One 77 Mortgages | Blog
by davesavage
3y ago
At One 77 we have always highlighted the importance of having a full and comprehensive protection package in place for yourself and your family should the unexpected ever happen. Now, in light of the global pandemic of the last 6 months, we cannot stress this enough. Separately, we found this to be even more pertinent when we recently contacted an existing client who was due for a mortgage review as their current deal and term were coming to an end. As is standard at One 77, whenever we arrange a mortgage with you we will take you through all the options to ensure that you are in the best posi ..read more
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The time to Remortgage is now!
One 77 Mortgages | Blog
by davesavage
3y ago
A recent analysis of the market undertaken by the financial information company Moneyfacts has shown that since the beginning of March – and no doubt fuelled by the COVID-19 pandemic – the UK’s lenders have withdrawn just under 2,700 mortgage deals and products. In effect, reducing the choice of products to borrowers by nearly a half. Data taken at the beginning of August has shown there were only just in excess of 2,500 products available – marking a drop in choice of around 2,700 products since the same time 5 months earlier. In addition to the reduction in available products, interest rates ..read more
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One 77 Mortgages clear up at the ESTAS
One 77 Mortgages | Blog
by davesavage
3y ago
Though we have lived through unprecedented times of late with the global outbreak of COVID-19, we would like to share some good news from One 77 Mortgages. We were recently awarded THREE awards at this year’s ESTAS Awards. The awards, which are seen as the Oscars of the property finance industry are normally held in London with the industry’s main players always in attendance – however, this year was held remotely and hosted by TV property expert Phil Spencer. We are thrilled to announce we won: GOLD – Best Mortgage Advisers (Southern) GOLD – Best Mortgage Advisers (National) SILVER – Best Mo ..read more
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Taking a mortgage holiday? PLEASE speak to us first!
One 77 Mortgages | Blog
by davesavage
4y ago
At One 77 we have had a number of new and existing customers contact us regarding taking a payment holiday on their mortgage – as announced recently by the the Government in light of the ongoing Coronavirus outbreak. We have seen from a number of cases in the industry that clients are actively discouraged to NOT cancelling their Direct Debits, as our understanding is that lenders are only tending to approve to those individuals who request the holiday in the correct fashion. It seems that if Direct Debits are cancelled without the timing being correct, it could result in a missed payment and t ..read more
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How you should consolidate your existing debts into a mortgage
One 77 Mortgages | Blog
by davesavage
4y ago
“Debt certainly isn’t always a bad thing. A mortgage can help you afford a home. Student loans can be a necessity in getting a good job. Both are investments worth making, and both come with fairly low-interest rates” – Jean Chatzky If you are having financial issues due to credit card debts or other conventional loans such as a personal loan, you can think about getting out of debt. You may choose to consolidate your debt burden by remortgaging your existing home or by taking out a new home loan. This is a considerable option to reduce interest on debts, as the interest rates offered on the m ..read more
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One 77 Mortgages Shortlisted for Best Mortgage Adviser
One 77 Mortgages | Blog
by davesavage
4y ago
We are delighted to announce that we have been shortlisted at this years Money Marketing Awards in the category of ‘Best Mortgage Adviser’. The awards are currently due to take place in London on 24 June and we look forward to attending the celebration with our fingers crossed for a win. We pride ourselves on our impeccable customer service and aftercare and our thankful that our efforts have been recognised with this nomination. You can view the full list on nominations by clicking HERE! Wish us luck! The post One 77 Mortgages Shortlisted for Best Mortgage Adviser appeared first on One 77 Mo ..read more
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Bank of England slash base rate. Act Now!
One 77 Mortgages | Blog
by davesavage
4y ago
This morning the Bank of England (BoE) has announced a cut of the base rate of interest to a staggering 0.25% in response to the foreseen economic upheaval of the coronavirus outbreak across the world. As the base rate is the BoE’s official borrowing rate, it will therefore influence what borrowers pay on their mortgages. The decision to make the surprise cut was made when the BoE’s Monetary Policy Committee met on Tuesday of this week, with them quoting it as a response to the “economic shock” of the coronavirus outbreak and hoped it would “help to support business and consumer confidence at ..read more
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