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© 2017 by Ms Broke in Bristol.

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I saved £408 a year switching my mortgage...

November 28, 2017

 

Welcome back to Broke in Bristol, the blog that helps you save money, make money and live life to the full on a shoestring. We’re often told that it pays to review our mortgages when the fixed term is up, but in reality our busy lives get in the way and life admin takes a backseat.

 

If your current deal is due to end, make finding a better deal a priority today as it could save you thousands over the years especially following the Bank of England interest rate rise of 0.5% at the beginning of this month. I nearly stuck with what I had, simply because I’m self-employed and don’t yet have three year’s worth of accounts.

 

If you’re in a similar situation, or don’t want to go through a credit check because your income or circumstances have changed, call your current provider and ask them what deals they can offer you. Because you’re already a customer you shouldn’t have to go through any credit checks (providing all your payments are up-to-date) and you should come out the other side with a better deal. In my case it saved me £34 a month, which totals £816 over a two-year period. Not bad, eh?

 

If you’re not tied to your current bank or building society, it pays to shop around even more. Bristol-based independent mortgage advisor Zoe Hadley-Clarke was a great help to me and I can’t thank her enough. Zoe is offering free advice to everyone in the Bristol, Bath and surrounding areas so email her on advice@hcmortgages.com or call her on 07748 800587.

 

If you found this post useful, please share it with your friends and don’t forget to like the Broke in Bristol Facebook page to never miss an update.

 

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