£17 billion worth of mortgages expiring in September
Homeowners will be keen to take advantage of some of the best ever rates when their mortgages expire over the coming months.
According to research by the data firm CACI, there is £17 billion worth of mortgages maturing in September and a further £18 billion in October.*
In total, between August and December 2017, over £65.5 billion worth of residential and £9.2 billion worth of buy-to-let mortgages are coming to the end of their fixed or variable rates.
Aaron Strutt, product director at Trinity Financial, says: "The average price of staying on a standard variable rate is an extra £439 each year according to Citizens Advice. Its latest report explains that one in 10 borrowers paid over an extra £1,000 each year by not switching lenders.
"We are helping many of our clients to complete their product transfers and remortgage so they can avoid the high reversion rates. There is a lot of choice in the market and lenders are fighting it out to attract new borrowers."
*CACI data, March 2017
Call Trinity Financial on 020 7016 0790 for help to remortgage
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