View more on these topics

Borrowers overpaying mortgageswhile rates are still low

Borrowers are increasingly looking to overpay on their mortgages, according to brokers.

The Bank of England has kept bank rate at a record low of 0.5 per cent for the past 29 months and it is unlikely it will increase for some time.

Emba group sales and marketing director Mike Fitzgerald says: “People are trying to get into a better position before the cold winds blow across Europe and fuel bills rise and interest rates rise. I think everyone realises now that the best mortgage is one that is being paid off quicker and that is what people seem to be doing.”

Everyone realises now that the best mortgage is one that is being paid off quicker

MoneyQuest managing director Simon Jackson says: “We are now seeing people who are overpaying their mortgage so they can remortgage with a smaller loan. Given the current economic conditions, it is a very sensible thing to do.”

Lentune Mortgage Consultancy director Stuart Gregory says: “Three or four years ago, it would not have entered people’s minds but a lot of people now are thinking more about overpaying and making the best of the low rates.”


Gartmore integration hits Henderson profits

Henderson Asset Management made a small pre-tax loss of £3m for the first half of 2011, due to costs related to the Gartmore acquisition. This compared to pre-tax profits of £41.6m for the first half of 2010 and took into account the £51.7m spent on Gartmore integration costs. The group recorded a 78 per cent increase […]


Life Cover for All says tap into big market for women

Protection advice firm Life Cover for All believes insurers are failing to recognise that women are often the financial decision makers and says insurers should be targeting this untapped market. Life Cover for All, which launched in May, helps clients with pre-existing medical conditions to get life cover. Partner Amanda Clancy says although men used […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm