Can I Save Money on My Mortgage?


Gary Oxborough is Practice Principal here at Barlow Irvin Financial Services.  This month, Gary talks about how you can save money on your mortgage.

Some fascinating facts came out recently from research conducted by Barclays Bank .

According to this research, an astonishing 49% of homeowners in the UK have never remortgaged their home, despite the average Briton having held their mortgage for over 13 years. This means that a substantial proportion of the mortgages outstanding are on the lender’s standard variable rate (known as SVR). These SVR’s can be as much as 3% more than the best remortgage deals on the market. On a £100,000 mortgage, this would work out at £3,000 per year in interest payments that don’t need to be paid!

If you are one of our valued clients, you will know that one of our main tasks is to make sure this doesn’t happen to you, we make sure that we speak to everyone on a regular basis to review their mortgage and ensure they are on the best possible deal.

With the Bank of England base rate of interest increasing this month and the feeling that there may be more increases to come later this year, it is more important than ever to review your mortgage, especially considering the increases in the cost of living. If you, or anyone you know, hasn’t had a mortgage review recently, please get in touch and we will happily conduct a complimentary review.  We will let you know if you can save money on your mortgage and talk you through the process.

As always, our team is always on hand to answer any questions you may have.  Please email us at or call us on 01204 304 814.

About the author 

The Barlow Irvin Team

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