How you can save £2,000 in 2021

By Katy Lehman

It’s the start of a new year, and many people are looking at the finances for 2021. Perhaps you’re looking at your outgoings and wondering where you can cut back, or you’re hoping to save up for some home renovations, a wedding, family holiday, you name it. In fact, according to a recent study, almost 70% of homeowners are actively looking for ways to reduce spending in order to get their finances into shape for 2021. 

Well, we’ve got some good news. According to new research from TSB, homeowners could save an average of over £2000 in 2021 just by remortgaging to a fixed-rate product at today’s rates. According to their research, 89% of homeowners haven’t even considered remortgaging as an option, even though they may be able to save an average of £169 a month! Monthly mortgage payments can take a huge chunk of your pay cheque, and for 84% of homeowners it’s their biggest monthly outgoing. Despite this, 29% of people don’t know just how much they fork out in interest every month. 

Many homeowners who are looking to save money do things like cut down on takeaways, switch energy providers, stop takeaway coffee. However, only 11% of people say that they have considered remortgaging their home!

We have many clients come to us who previously put off remortgaging. They said they were happy with their current rate, thought there were unnecessary fees involved, or thought that they couldn’t remortgage due to early repayment charges. Many homeowners also think that it’s a huge task and could do without the stress. Luckily, it couldn’t be easier with the help of Nook Mortgages! If you have any questions about remortgaging, please don’t hesitate to get in touch.