Over the coming months, many people will find that their fixed-rate mortgage deals will be coming to an end. Once these deals run out a lot of people may get a shock as their monthly mortgage payments rise.


According to the Daily Mail (Daily Mail – 17/03/08), “Around 1.4million face an average monthly rise of £200 while others could be asked for £500 more.” The article states that this means “More than 320,000 homeowners fear they won’t be able to cope with the “payment shock” when their cheap fixed-rate mortgages end.” And “One in 20 - nearly 70,000 - admit they have absolutely no idea how they will foot the bigger bill.”
To ensure that this does not impact you it is important to think about your mortgage in advance and according to the gmtv website (www.gm.tv), “The best time to try and start finding a deal is roughly three months before your current deal ends, so if you don’t know when that is find out and put a note in your diary. “ and “If that time has passed though, the sooner you act the more you will save. “

To try and get the best deal you could use a specialist broker such as Newleaf Finance to try and get you a good deal. They can use their mortgage sourcing system and look through the rates available from hundreds of lenders. All the high street Banks and Building societies are included within this sytem, and also specialist Lenders. In many cases these rates are only available through a specialist Remortgage broker like New Leaf.

Contact Newleaf today on 0800 281 370 or apply online now, for either, a secured personal loan or remortgage.