At NEST Mortgage and Financial Solutions, we believe in empowering our clients to face life's financial challenges head-on. Our latest success story features a couple who reached out to us, looking to secure their financial future as they approached the end of their fixed-rate mortgage on November 30, 2023.
AGE OF CLIENT(S)
With the looming uncertainty of rising mortgage rates, our clients wanted to be proactive and explore their remortgage options well in advance. Not only did they have a mortgage that was due to increase, but they also carried several unsecured loans and high credit card balances, amounting to over £500 per month. The prospect of stretching their monthly income further was a significant concern.
After conducting a comprehensive assessment of our clients' financial situation, including their income and anticipated retirement age, we collaborated to find the most cost-effective solution. We proposed a remortgage to a new lender while consolidating their existing debts into the mortgage. This approach increased their disposable income by over £300 compared to retaining their current debts and switching to a new, higher-rate mortgage.
It's essential to note that debt consolidation isn't suitable for everyone, and it requires careful consideration and discussion with your mortgage broker.
2nd June 2023Application submitted
4th JuneMortgage Offer issued
What happened next...
Our clients were delighted with the solution we provided in June. By acting early and seeking our professional guidance, they navigated the upcoming mortgage rate increase with confidence and peace of mind. This story illustrates that mortgage rate hikes don't have to be intimidating when you have the support of a dedicated mortgage broker.
How we can help you
Are you facing a similar situation? Worried about rising mortgage rates? Don't hesitate to reach out to us. Give us a call on 01202 090 008, and let's explore how we can help secure your financial future. At NEST, we're here to guide you every step of the way.
Think carefully before securing debts against your property. Your home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.