{"id":13587,"date":"2018-01-26T07:22:36","date_gmt":"2018-01-26T07:22:36","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=13587"},"modified":"2019-08-21T19:51:31","modified_gmt":"2019-08-21T19:51:31","slug":"how-to-save-money-on-your-mortgage-in-2018","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/how-to-save-money-on-your-mortgage-in-2018\/","title":{"rendered":"How to Save Money on Your Mortgage in 2018"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p><span style=\"font-weight: 400;\">Any time is a good time to save money but, with New Year now under way, now is as good a time as any to look to save some money on your mortgage in 2018.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In October of 2017, <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-0qo7bm580sfu0jxl675d7vv5vq81pojd\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/mortgage_loan\">Mortgage<\/span> approvals in the UK <\/span><a href=\"https:\/\/www.theguardian.com\/business\/2017\/nov\/24\/mortgage-approvals-in-uk-at-lowest-level-for-13-months\"><span style=\"font-weight: 400;\">hit their lowest of the past 13 months<\/span><\/a><span style=\"font-weight: 400;\">. Pantheon Macroeconomics chief UK economist, Samuel Tombs, has said the bank of England\u2019s November 2017 decision to raise interest <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-syszkcjas6xrrbh4hm41obgq5oyrwq51\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/rates_tax\">rates<\/span> for the first time in more than a decade will only cause to further this downward course. A whopping jump from 0.25% to 0.5%. You can be sure this hasn\u2019t gone unnoticed by the banks and money <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-2x17zgmxveae98wwmqc2tqg0evowc2n2\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/loan\">lenders<\/span>.<\/span><\/p>\n<h2><b>Strike in the Dip.<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">As the well known trader\u2019s saying goes: \u201c<\/span><a href=\"https:\/\/www.investopedia.com\/articles\/investing\/081415\/look-buy-low-sell-high-strategy.asp\"><span style=\"font-weight: 400;\">Buy low, sell high<\/span><\/a><span style=\"font-weight: 400;\">.\u201d You can be sure the banks and money <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-6ghtnsyirw7ra2g16i2mxfsz0c70gtlp\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/loan\">lenders<\/span> will have noticed this lull in the <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-u0i6c7ukx7az14q4nnv9hsozlbodysrc\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/market_economics\">market<\/span> and will be offering ever more enticing mortgage <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-xkgqs034sx08kmbzy5wdpgij3bemer2v\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/rates_tax\">rates<\/span> to attempt to draw customers in their direction. The mortgage world has so many players in it nowadays, that finding the right lender can be something of a minefield. Fortunately services such as <\/span><a href=\"https:\/\/propillo.com\/\"><span style=\"font-weight: 400;\">Propillo<\/span><\/a> <span style=\"font-weight: 400;\">are on hand to offer free honest mortgage advice you can trust. They don\u2019t sell mortgages themselves, they are simply a great source of information and can put you in touch with the right people that do! In addition to offering help over the phone, their website contains a wealth of information in the form of relevant, up to date articles on various topics and a multitude of mortgage calculators at your disposal. So you can work out how much you\u2019ll have to pay back on your <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-c7fqjw0eeo8evfxe8rl7fl1co0uheszp\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/fixed-rate_mortgage\">fixed rate mortgage<\/span>.<\/span><\/p>\n<h2><b>How can a <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-ey7aks64tg0yf7xfty8ih4j7nyhkxpq0\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/fixed-rate_mortgage\">fixed rate<\/span> mortgage save you money?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The benefit of a <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-ngfly87jj1o7x5txrf3d3sp0e0me3zdo\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/fixed-rate_mortgage\">fixed rate<\/span> mortgage is that the interest rate and monthly payment amount will stay the same for a set period of time, thus allowing you to much better budget for the expense. This differs from a <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-yrt34jt3k81t09zrgyx9j0bpeeyc5r3r\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/floating_interest_rate\">variable rate<\/span> mortgage, for which the interest amount will go up or down dependent on the bank of England base rate or the <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-24ez0t65ce05dspihd4ofsmjptaxnnis\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/loan\">lenders<\/span> <\/span><a href=\"https:\/\/www.ft.com\/content\/7fffafd6-0291-11e7-aa5b-6bb07f5c8e12\"><span style=\"font-weight: 400;\">Standard Variable Rate<\/span><\/a><span style=\"font-weight: 400;\"> (SVR).<\/span><\/p>\n<p>The pro of this <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-pivai53j23vhl41dm6ut7pulq76fyexa\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/fixed-rate_mortgage\">fixed rate<\/span> deal is that if the SVR interest rate increases, you\u2019re still safely paying your agreed monthly sum. Of course the flip side of this, is that if the interest rate for the SVR were to fall, you\u2019d still be left paying your higher fixed <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-ck74usjqs451ecuiyyceeegtv4gpvshi\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/rates_tax\">rate<\/span>! But, let\u2019s be honest, being safe and secure is better than <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-tdylkao23ahnguqy4vcp41723j066qcn\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/eminent_domain\">taking<\/span> a gamble on your mortgage here!<\/p>\n<h2><b>Pay more now, save more later!<\/b><\/h2>\n<p>The more your are able to pay off in the early days of your mortgage, the more you will save in the long run! Your mortgage will likely have an introductory, low <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-g2u631wmjk9309o5w8k6a88bcnzhhzpv\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/rates_tax\">rate<\/span> of interest. Most likely what enticed you in right? Take advantage of this! Budget a little extra to pay off the mortgage more quickly! Paying off just \u00a3100 extra a month can save you literally thousands of pounds over what you would pay over the full <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-feh86y2wm5qhr63wtwnbmqrpuhzp6hpx\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/contractual_term\">term<\/span> of the mortgage! And think how rich you\u2019ll feel as a <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-lhbrfvua7jl4y0gnc6ke8pctl4976q45\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/home\">home<\/span>-owner with no <span class=\"textannotation disambiguated wl-thing\" id=\"urn:local-text-annotation-6cz6v9b04zvm4r5fr35dottswdjq10r7\" itemid=\"http:\/\/data.wordlift.io\/wl0502\/entity\/renting\">rent<\/span> to pay!<\/p>\n<p><span style=\"font-weight: 400;\">If you haven\u2019t got a mortgage already, you can check out our handy guide on <\/span><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/3-ways-to-improve-your-chances-of-getting-a-mortgage\/6814\/\"><span style=\"font-weight: 400;\">how to improve your chances of getting approved<\/span><span style=\"font-weight: 400;\">!<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Any time is a good time to save money but, with New Year now under way, now is as good a time as any to look to save some money on your mortgage in 2018. In October of 2017, Mortgage<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/how-to-save-money-on-your-mortgage-in-2018\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":13588,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[15,16],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2018\/01\/house-mortgage-investment.jpg","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/how_to_save_money_on_your_mortgage_in_2018","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/13587"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=13587"}],"version-history":[{"count":6,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/13587\/revisions"}],"predecessor-version":[{"id":20604,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/13587\/revisions\/20604"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/13588"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=13587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=13587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=13587"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=13587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}