Have You Met Oliver?
Oliver could be your new best friend. He drives around the countryside (and towns!) saving normal people money that otherwise would have gone to their mortgage lender.
In 2017, Santander reported that 78% of their customers whose fixed or discounted rate were finishing, remained with them either on the Standard Variable Rate (SVR) or by switching to another fixed or discounted rate.
As an experienced mortgage advisor Oliver knew that Santander didn’t have the best rates in 2017. By shopping around for his clients he would invariably Remortgage them away to a better deal often saving them thousands of pounds.
Why is this possible? Because if 78% of clients don’t bother to shop around and Santander (and many other banks) know that they can charge these people more and still retain their business, they will. It’s simply market forces working.
Is it a lot of hassle?
It shouldn’t be. A couple hours of your time and some gathering of paperwork could save you thousands of pounds. Most people have to go to work for a whole month to earn that type of money!
Won’t I end up paying lots in fees?
You only switch if it saves you money. Most lenders offer free valuations and either free legal packages or a cashback to cover the legal costs. They may charge a Product Fee but if adding £999 fee to your mortgage saves you £3,000 over two years then it is still a good idea. You could use the saving to repay the £999. There are many mortgages that don’t have a product fee at all. These of course may have a higher interest rate. It is Oliver’s job to calculate which is the right one for you, and your mortgage circumstances.
When should I call/email Oliver?
Oliver would typically sit down with you 4-5 months before the end of your existing product. The plan is to have everything ready the day after your penalties expire so you spend no time on the Standard Variable Rate (SVR) whatsoever.
What if I forget!?
We all have busy lives so if you prefer please send us the details below and we can contact you at the right time.
Do you charge me a fee?
Yes. The fee for a Remortgage is £200. You only pay this once you are happy with the recommendation and wish to proceed. If the right advice is to stay put we will tell you and not charge you anything. If a cheaper deal becomes available during the application process we will switch you to this for no additional charge.