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A speedy remortgage to a cheaper rate


Kimberly has an offset mortgage with First Direct and is looking to remortgage to a cheaper lender with no Early Repayment charges as she plans to sell within the next 12 months.

Kimberly wanted to remortgage before her current rate expired which was only a month away! A straightforward remortgage is usually not an issue in these timescales but it means staying on top of the bank and solicitors. We wanted the most flexible rate possible so that Julia would have the option of a new lender should she move house in the next 12 months as planned.

“We saved her 2% on the interest rate”

We saved her 2% on the interest rate and were able to reduce the term from 22 years to 15 years, meaning that £1500 of the mortgage was being repaid every month and the outgoings were in line with her previous payment with First Direct.

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Adviser: Louise Kelleher

Purchase price: £800,000

Loan: £312,000

Arrangement Fee: £999

Rate: 1.29%

Term: 15