There are various life events that initiate us to consider moving home throughout our lives, this could be:
- Raising a family
- Changing school, requirement to be in a school catchment area
- Employment change
These situations shall alter your financial position, therefore its vital to review all your options to capitalise on the very best the mortgage market has to offer.
Humans can be creature of habit, if you’ve experienced a good service from your existing lender then it’s understandable to want to go back and see if they can assist you in the new move.
However, the mortgage market is complex, mortgage deals are constantly launched and withdrawn, therefore your current lender may not be able to offer you the very best deals for your circumstances.
Using a mortgage broker like Transparent Mortgage Services gives you access to a much broader range of mortgage products.
If you decide to go direct and don’t get your application approved, you may waste precious time contacting alternative lenders to try to secure your new mortgage and this could result in missing out on the property you wish to buy.
Your Insurance & Protection requirements
If you move home, you will have a new home insurance requirement specify to the new property. Moving home often ties in with a life changing event, there could be other areas that now require attention, if you have recently got married, had a child but don’t have life insurance, you may want to ensure your loved ones are protected.
Where do you want to be in 2,5, 10 or 20 year’s time?
If you’re moving home because you’ve just had a child, you may want to be in that house for the next 18 years taking into consideration localities of schools, or you may see yourself having several more children and requiring more space and need to upsizing in the next few years.
The point is that thinking strategically about where you need to be can drive your decision making and ensure whether unnecessary costs can be avoided. It should also tell you which features you need in your mortgage to meet your long-term plans.
At Transparent Mortgage Services we don’t just punch your details into a search pro-gramme and obtain you the cheapest mortgage deal, our service is personalised and we know that asking strategic questions helps us design your mortgage requirements tailored to your needs, not only initial needs but also planning for the future, this is imperative to avoid unnecessary costs.