New Year Resolutions
- Join the gym.
- Start diet.
- Never drink alcohol again.
- Spend less.
Are any of these on your list? Are they mostly inspired by over-indulging and over-spending amidst the festive celebrations? In which case, you're probably not alone!
Two weeks into the new year and you've stopped going to that gym you joined and dry January is just a distant memory. But don't despair you could salvage the whole new year resolution tradition by reviewing your financial situation. It's a one-off task but it could provide benefits for not only the rest of this year, but many years to come.
A financial situation review is a good opportunity to see if you can get a better mortgage deal and ensure your protection insurance still meets your personal circumstances. Maxwell Moore can carry out these reviews for you and advise on any changes that benefit you.
If you have a mortgage balance of £100,000 and are currently on a standard variable rate of 3.49% with a remaining term of 15 years, you may be paying around £714 per month. If you qualified for a remortgage at 1.99% with the same term of 15 years, your monthly payment would reduce to around £643. That's a saving of £70 a month and your mortgage will still be paid off in the same time1.
We can check your life insurance and income protection policies are still appropriate to your needs, or advise you if you're interested in taking out new cover.
Our review doesn't cost you anything2 and it could help you achieve your “Spend less” resolution. The savings you might make on your mortgage may well cover the cost of that gym membership you're not using!
Give us a try. There's no obligation and you'll get a friendly, professional service.
1 Example only. Mortgage eligibility subject to individual circumstances. Product fees may apply.
2 There is no fee for insurance advice. Our broker fee of £350 for mortgage advice is payable on submission of a mortgage application.