Case Study: Mortgage advice, exploring alternative options clients may not think of

Our client was recommended to us by a family member who is also a friend of one of our advisers. She had recently split up from her partner, and as part of this they were selling their property and she was relocating, and asked for our advice on a new mortgage.

During our initial chat we discovered that there was an existing mortgage in place, that was on a fixed rate with penalties for early encashment, that the client and her partner were willing to ‘take on the chin’.

We queried this, and with authority from both were able to port the existing mortgage in just one name, so our client was able to keep the existing fixed rate (which is much lower than current rates), and the sizeable encashment penalty will be avoided. Between them the latter alone will have saved them over £6,000.

This is one benefit of paying for advice, years of experience means we know what to look for, and there may be options you don’t even know are there.