Can I get a cheaper mortgage?

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This is one of the most common questions we get asked, and it makes sense, why wouldn’t you want a cheaper mortgage? It’s definitely something we can help with.

What do we mean by ‘cheaper’ mortgage? It doesn’t necessarily mean you pay less each month. Most people’s goal is to be mortgage free as soon as possible, that’s easier said than done because there’s so much more to it than that with a typical repayment mortgage.

One way you could reduce your monthly payments by simply extending the overall term of your mortgage, this will reduce your monthly payment, but you will end up paying more back over the entire term of the mortgage. This is why you should start with a budget in mind, at Advantage we believe budgeting is very important, we will help you decide how much you should be spending on your mortgage and take it from there.

Throughout your mortgage lifetime you will remortgage several times, every time you remortgage you have an opportunity to review the entire mortgage. Whilst most people take around 25 years to repay their mortgage you should really think more short term, ask yourself, ‘What can I afford to pay for the time being?’ If that means taking a longer or shorter mortgage term for now then that’s what you should do.

The best way to reduce your mortgage payment is to switch to a lower interest rate, (this is known as remortgaging or product transferring) not only does this reduce your payment but crucially the amount you will pay back in total. Advantage is a ‘Whole of Market’ brokerage, you’ve probably heard the term ‘Whole of Market’ a few times before. Whilst it’s important that your broker can use a wide array of lenders, the lowest interest rates are generally offered by the big banks and building societies that are household names. It’s not unusual for a bank to offer lower interest rates exclusively via mortgage brokers than directly to customers, so give us call!  

The quickest way to discover the maximum you can comfortably borrow is by speaking to an experienced mortgage broker, such as ourselves, and getting them to check out all available mortgage deals, that way you can be sure you get the cheapest deal. Contact us now to get your home move moving!
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Book an appointment

Call us on 0117 442 0604 or send us an email at info@advantagefs.co.uk if you would like to find out more.

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Why Choose Us?

Our clients choose to trust us over the competition because of the way we conduct our business.

Transparency
Did you know that not all mortgages are available through brokers? That’s why we’ll always let you know about any cheaper deals that we’re aware of when we make our recommendation. Nothing hidden here.
Giving
We exist not only for our clients but to make the world a better place in any little way we can. We participate in ‘micro-giving’ via a charitable organisation called Buy1Give1, to causes such as conservation and clean water.
Technology
All Advantage customers have their own Client Portal for secure exchange of information, messages and documents. However, we always tailor our services to suit you, whether face to face, telephone, email or carrier pigeon.
Specialism
Whilst we have arranged finance for people in all situations, we have areas we think we excel in. If you are a contractor, self-employed, a first time buyer, an older borrower or have had credit issues, you should really call us.
Your Home may be repossessed if you do not keep up repayments on your mortgage or another debt secured on it

The information contained in this website is subject to UK regulatory regime and is therefore intended for consumers based in the UK.

Our typical fee is £450 and only paid when your offer is produced. This means that if we’re unsuccessful in getting you the mortgage you won’t pay a fee, giving you the confidence you need from a broker.

Advantage Financial Solutions is a trading style of TRM Financial Ltd, an Appointed Representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered Office: 70 St. Johns Close, Knowle, Solihull, England, B93 0NH.  Registered in England and Wales no. 09832887.