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Mortgages: How low can you go?

02/07/2015 The housing market might be up and down like a yo-yo, but one thing is certain - interest rates are still at an all time low. However, just because the bank isn't taking as much of your hard earned cash as it did before, don't assume that you're getting the best deal.

Since the recession, one of the few things that most people have actually benefited from financially is lower mortgage payments. Where our money is concerned, good news has been so few and far between that lots of us are just happy to be saving on something.

But don't be seduced into neglecting your mortgage.

Here at CBHC, our priority is to make sure that our clients are either making or saving as much money as possible, and at the moment there are some fantastic remortgaging deals available that could be saving you even more.

For example, the average Standard Variable Rate from mortgage lenders is 4.76%. Although quite a respectable figure in relation to previous ones, this rate is relatively high compared to what you could remortgage to: tracker rates are now available from 1.49% above the bank base rate, and the cheapest fixed rates start at just 2.49%. Put that into the perspective of a £300,000 mortgage, and the monthly savings could be significant

Of course these deals do depend upon individual circumstances, such as LTV and affordability, but finding out if you could save on your mortgage payments is quick and easy. Just pick up the phone and speak to CBHC's Wealth Management team. We'll be able to assess your circumstances quickly, find out what deals you could access, and tell you how many years we could take off your mortgage.

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