Remortgaging in the cost-of-living crisis

If you are a homeowner with a mortgage due to renewed any time soon, you will understandably be feeling apprehensive.

The combination of rising interest rates over the last two years and the cost-of-living crisis mean many homeowners are facing higher repayments when they remortgage. But with high inflation to contend with, it’s likely your outgoings have increased too.

What does this mean for your mortgage? Will you be eligible for a new deal?

This is the question our editor Kate Saines put to Sarah Tinkler, mortgage and protection adviser at Clever Mortgages, and she had some super advice.

She offers hope to borrowers who are worried the change in budget and higher mortgage rates may jeopardise their remortgage application. Plus, she has some top tips on how to get your finances in order ready for the application.

This interview is available in podcast or video format and is ideal for anyone due to remortgage in the next six months who is worried about how the cost-of-living crisis and rising interest rates might impact their application.

If you are a personal finance expert or professional keen to share your knowledge with our readers in future episodes, get in touch with Deborah Hindley at deborah.hindley@emap.com