Find the best mortgage to downsize and save money.
Finding the best mortgage is an essential if you want to have as a low monthly mortgage repayment as possible.
There are various reasons to downsize your home. Many retirees chose to do this once their children have flown the nest and a larger home is no longer necessary later in life.
Other reasons include downsizing to release equity to provide a deposit for a child's first mortgage. It is also now becoming more common for those struggling to manage their mortgage to downsize to a smaller property and lower cost mortgage.
A recent survey has revealed that around 30% of home-owners who downsize do so to save on monthly outgoings, many find themselves downsizing due to financial issues.
If you are downsizing to reduce your costs finding the best mortgage for your circumstances is crucial, it may be key to your downsizing plans.
Statistics show that over 60% of home-owners who choose to downsize are 55 years old and over. However due to economic difficult around 25% are aged between 46 and 55.
If you are looking to downsize to reduce your mortgage costs, you should seek professional help to find the best mortgage possible.
Deal Direct are an independent 'whole of market' mortgage broker and we can find the most appropriate mortgage for your circumstances.
Call an adviser today.
