First Choice Finance - Mortgage Broker First Choice Finance Compare Home Owner Loans
First Choice Finance - Mortgage BrokerCompare Home Owner Loans


Am I able to overpay on my mortgage

Am I able to overpay on my mortgage

 



Video transcript

Now maybe the time to think about overpaying on your mortgage so that you can take advantage of the Bank of England base rate remaining at its record low level.

You certainly wouldn`t be alone in doing it either, after Santander revealed that a third (34 per cent) of all mortgage payers are making some form of overpayment at present, be it on a monthly basis or through one-off payments.

However, the lender also found that a quarter (23 per cent) of homeowners don`t know if their current policy allows for extra payments, while almost one-in-ten (eight per cent) indicated that they knew that overpayments would cost them.

For people like this, it may be worth looking at your mortgage agreement and seeing what you are allowed to do. Many allow up to 10% to be overpaid each year without penalty. If you are thinking of leaving your mortgage company, remortgaging or moving home then you may want to talk to a mortgage broker with a wide choice of lenders who can give you help and advice on getting a new mortgage, such as one which allows larger overpayments or has a lower rate.
Get a no obligation free quote by visiting firstchoicefinance.co.uk or by calling us on 0333 003 1505 or 0800 298 3000. 

Homeowner Secured Loans
Rates From 7.1% APRC Representative Example £30,000 over 72 months @ £679.90 repayments. Total payable of £49,949. 20.1% APRC including £2,975 intermediary fee and a £995 lender fee. Loans secured on property. First Choice are tied to certain loan providers.

Mortgages & Remortgages
4.5% APRC
Representative Example: Borrow £80,000 over 25 years At 4.6% Variable, £461.95 for 300 months.
Total Payable £138,585. Total Cost Of Credit £58,585 (incl £1360 fee).


Unsecured Personal Loans
REPRESENTATIVE 49.9% APR (VARIABLE)
First Choice are tied to certain unsecured lenders.


THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Security is required on immovable property.



Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home

First Choice Finance is a trading style of First Choice Funding Limited of The Old Courtyard, 103 Buxton Road, High Lane, Stockport, Cheshire. SK6 8DX. Copyright protected 2014.


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