What is a product transfer?
When your current mortgage deal is coming to an end your mortgage lender may offer you a new deal to stay with them, this is known as a product transfer. You don’t have to stay with your lender, there are thousands of competitive deals out there waiting for you.
Are you rewarded for being loyal?
Unfortunately, most lenders don’t reward you for your loyalty to them. They are probably offering First Time Buyers in Sheffield a better rate than their withstanding customers, like you.
This is why we always recommend that you don’t rush into things and get Mortgage Advice in Sheffield before accepting a deal. It can be hard to find a competitive deal with the same lender and that’s why we advise in shopping around first or approaching a Mortgage Broker in Sheffield.
A Mortgage Advisor in Sheffield will search through thousands of mortgage deals until they find a perfect one that matches your personal and financial circumstances. Here at Sheffieldmoneyman, we will always have your best interests at heart and will try our absolute best to secure you that 1/1000 mortgage deal.
Tempted by an online switch?
Whilst swapping to a new deal with your current lender online may be fairly easy, it is always in your interest to see what other deals you may be eligible for. Lenders will always try and tempt you to take their online offer over getting Mortgage Advice in Sheffield. They probably know that you can get a better deal but why would they want you to know that this is why taking Mortgage Advice in Sheffield can really help!
When you go to your local Mortgage Broker in Sheffield, like us, you are guaranteed consumer protection. If you decide to go ahead with an online switch, you don’t receive any of this.
You’ll be opting out of advice
In past, we have seen that some customers just go for the most convenient option. This often leads to them missing out on a great deal that they could’ve accessed had they taken things slower or approached a Mortgage Broker in Sheffield.
You should always take advice, especially if it’s free! We offer a free mortgage consultation in Sheffield and can do all of the shopping around for you across our panel of 38 lenders in order to find an amazing mortgage deal.
If you end up on the wrong deal by accident or realise that you could’ve had a better one down the line, you can’t complain as you chose to opt-out on advice and do everything on your own through an online switch. Switching deals in the future will cost you a lot more than had you taken Mortgage Advice in Sheffield.
Mortgage Advice in Sheffield
We have been working within the mortgage industry for over 11 years now and know exactly how to find you a perfect mortgage deal. We can arrange everything for you and help get the ball rolling with your product transfer.
Even if your requirement seems straightforward we always recommend that you take Mortgage Advice in Sheffield. A second opinion costs nothing and making a mistake when taking a new product can be costly.
90% of the time savings can be made and this can be done by simply searching the market for a new deal. Let your local Mortgage Broker in Sheffield help you secure that amazing deal, we can’t wait to hear from you!
Date Last Edited: September 15, 2023
