How to reduce outgoings by saving money on your mortgage

30 June 2021

Feeling the financial sting of the pandemic? Miles Robinson takes you through some options to help you save on your mortgage repayments and examines the Support for Mortgage Interest scheme

Many people have struggled financially since the onset of the Covid-19 pandemic. In the UK, we saw a record high in redundancies in 2020 and an unemployment rate of 4.8% this year.

Therefore, it is not surprising that many homeowners are exploring ways to save money on their mortgages and reduce their monthly outgoings.

However, before homeowners commit to changing any payments, we would advise they seek expert advice from a mortgage broker or financial adviser. Whilst many schemes and products may seem appealing at first, it is important homeowners do their research to ensure they are aware of the fine print when committing to new payment plans.

Here, we explore two ways homeowners can look to save on their mortgage…

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