With the news this month that average mortgage rates have now reached their highest level in 15 years – 6.66%1, and that over a million people are facing a hike of £500 a month in their mortgage repayments by 20262, it highlights the importance of seeking professional mortgage & protection advice in such a volatile market.
If you’re looking to move home, or have a remortgage coming up soon, then it’s highly likely that your monthly mortgage repayments will be much larger than what you’re used to, however, with the complexity of the deals available, we are ready to help find the most suitable deal for your circumstances, for when the time comes.
Plan ahead & speak to us
Given that mortgage repayments are likely to rise, the wisest thing you can do is to plan ahead to see how this impacts your finances, and identify if there’s anything you need to change now, which will benefit you much more when it’s time to move to the new deal.
You’ll most likely be contacted by your lender, offering deals and opportunities to change your mortgage, but we would recommend seeking our advice before making any decisions.
As your mortgage & protection advisers, we are here to support you through the challenging times. Book an appointment with us to review your existing deal, and we’ll be able to look across the mortgage market across deals from a wide range of lenders, and have access exclusive deals that are not available on the high street.
We’ll take time to look at your exact circumstances and build an understanding of your goals, which will help us to find the most suitable mortgage for you. In such a turbulent and fast-changing time, you need to be sure that you are making the most appropriate, well-informed decision for your situation, so we are ready to give you the advice you need for when you need it.
What to do if you’re struggling
We know that times are tough right now, so if you are worried about meeting your existing mortgage repayments, then we want to do what we can to point you in the right direction to get help at the earliest possible opportunity.
Start by talking to your mortgage lender and make them aware that you are struggling. There are a range of measures that they may offer to help with a situation, such as switching the mortgage to interest-only for a temporary period or reducing monthly payments for a set timescale, for example.
At the same time, it’s worth bearing in mind that making changes, even temporary ones, may result in higher monthly payments in future or paying back more overall. Mortgage borrowers should carefully consider any steps they take and customers who can keep up with their payments should continue to do so.

For this reason, as well as speaking to your lender immediately, we also recommend contacting us at the same time to talk through anything related to your mortgage, your monthly payments or even if you are concerned about how you could be affected if rates were to rise further – we are here to help. We will be able to look at your specific circumstances, explain everything that you need to know and help you make decisions that are the most appropriate for you.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Sources
BBC News (2023). Mortgage rates soar to highest level in 15 years. Available at: https://www.bbc.co.uk/news/business-66153812 (Accessed 17 July 2023)
BBC News (2023). Mortgage payments set to jump by £500 for one million households. Available at: https://www.bbc.co.uk/news/business-66172954 (Accessed 18 July 2023)

All the information in this article is correct as of the publish date 27th July 2023. The opinions expressed in this publication are those of the authors. The information provided in this article, including text, graphics and images does not, and is not intended to, substitute advice; instead, all information, content and materials available in this article are for general informational purposes only. Information in this article may not constitute the most up-to-date legal or other information.

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Mortgage Time Limited is a company registered in Scotland with company number SC607863. The registered office address is 221-223 Balgreen Road, Edinburgh, Scotland, EH11 2rz. The information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK. Mortgage Time, a trading style of Mortgage Time Limited is an appointed representative of HL Partnership Limited, which is authorised and regulated by the Financial Conduct Authority. Think carefully before securing any other debts against your home. Your home/property may be repossessed if you do not keep up repayments on a mortgage or other debt secured on it.  There may be a fee for mortgage advice. The precise amount will depend upon your circumstances and will be agreed with you before proceeding, but we estimate it will be £299

ARLENE

Arlene started her banking career at 19 and progressed to Regional Relief travelling all over Scotland, providing front-line counter to branch manager. This role continued for approx. 6 years when Arlene returned to branch life as a Mortgage Adviser as this was where her passion lies. After being in the bank for 20 years Arlene felt it was time to move on to allow a wider range of lenders and products with the purpose of getting the best solutions for clients.

“I love my job and the satisfaction of seeing the full process through to the end. In some cases making, what seems impossible, possible and the seeing my clients so happy, makes me happy”

When Arlene isn’t working her life consists of quality family time with her husband, 2 boys who love football so lots of time on the sidelines watching as well as attending games. She is also dog mum to black lab almost 3 and Cypriot rescue approx 9 months.

meet Barbara

Barbara is the office manager and invaluable member of the team. She is the glue that holds Mortgage Time together. Barbara started her financial career straight from school as an office junior for a major bank and worked her way up over the next 21 years to Branch Manager.

After taking some time out to have her twin girls she returned working part time however found that branch banking had changed a lot in those 4 years and wasn’t as enjoyable. Barbara had an excellent reputation and Kerry approached her to join Mortgage Time, this was initially Barbara’s second job and quickly became only career.

‘I thoroughly enjoy my role assisting the advisers ensuring their files are compliant and make sure that our client’s journey to completion is as seamless as possible’

When Barbara is not working she is kept busy with her twin girls social lives and 3 year old German Shepherd, Tanya who enjoys long walks in all weather.

Please be aware that by clicking on to the above links you are leaving our website. Please note that Mortgage Time Limited nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

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Please be aware that by clicking on to the above links you are leaving our website. Please note that Mortgage Time Limited nor HL Partnership Limited are responsible for the accuracy of the information contained within the linked site(s) accessible from this page.

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meet PEGGY

Peggy started her career at Mortgage Time at the young age of 6 months! We encouraged her to be the first member of Mortgage Time team due to her friendly nature and willingness to learn.

She has worked her way up from assisting emptying the bins in the office to her new title of front of house.

She is the first member of the team to meet and greet our clients although this role now depends how close you visit versus her walk schedule as she loves her snooze time after her walk. She is always very excited to welcome you into the office.

She is very security conscious and will alert you to anything she finds interesting on the outside and always likes to help in the office making sure there is no paper, cardboard or anything left lying about (this is subject to her nap schedule!)

If Peggy were able to summarise her role, I’m sure it would something to this effect ‘I might be a little excited when we first meet and demand some attention and cuddles however I am then happy to go have a little snooze during your meeting and walk you to the door when you’re all finished’

When Peggy is not in the office she likes to lie in the sun and chill, little visits to see her mum Milly and walking with her friends.

meet cATE

Cate is one of the founding directors at Mortgage Time. She commenced her financial career straight from school as an office junior and has worked in a few High Street banks over the years, doing a variety of roles before moving on as whole of the market broker. Cate met Kerry in this role and they became great friends and Mortgage Time was born 😊

Cate has been involved in the mortgage business since 1997 and has seen massive changes over this time. She has helped many clients throughout their journeys of buying, selling, building, extending and is now helping her clients children do the same.

‘I love helping all my clients, whether it be buying their first home that they thought they couldn’t afford or raising money to help their children or even grandchildren buy, whatever the reason I will always do my best for my clients, where there is a will there is a way, it may take time, but we will get there.’

When Cate isn’t working, she absolutely loves spending time with her family and her many grandchildren. Weekends consist of long walks with the front of house dog Peggy (you may recognise Peggy if you have visited our offices) who you can see in ‘meet the team here

meet crysta

I have worked in mortgages since 2016 starting within Lloyds Banking Group working with various lenders such as Halifax, Scottish Widows and Birmingham Midshires.

I am the newest advisor at Mortgage Time and I joined in October 2022 following the end of maternity leave after my second daughter and I haven’t looked back since! I absolutely love meeting new clients and helping them achieve their property goals and fully appreciate this is just houses but homes!
By far my favourite part of the job is the satisfaction I get when completion takes place or even just helping them feel more comfortable about an overwhelming process!

In my spare time I savour every minute of being with my family.
I have two young daughters called Lyla and Lulu with my husband, Lewis.
We absolutely love going on holiday to Lanzarote in particular and my favourite thing is to watch the girls enjoying the sun, sand and sea and a bonus is a few cocktails for me 🍹

meet Jason

I began my career with the Bank of Scotland working in various areas of banking including Mortgages, Pensions, Bank accounts, Unsecured lending over a 12 year period.

I joined Mortgage Time in 2021 and have really enjoyed the flexibility of the mortgage adviser role. It has allowed me provide strong advice to clients such as first time buyers. From taking them through their market options, explaining the process of buying their first property and providing support to them until they get their keys and more importantly into the future.

Interests: I love a night out with my beautiful wife Katherine when we get the chance. We have 2 lovely daughters, Teddy & Frankie who also keep us on our toes. I also love fly-fishing down the local rivers & around Scotland. Enjoy getting out with the dogs; I have a 1 year old cocker spaniel named Bracken (she is mad) and a 12 year old pug named Dave who likes to take it easy now.

meet Chris

Chris has been a mortgage advisor for over 15 years working with several of the UK’s largest lenders as well as many years as an independent mortgage broker. In this time he has gained a great deal of experience and industry knowledge that he puts to use to best advise and protect his clients.

Chris has been with Mortgage Time since 2020 and enjoys the flexibility of his role and the friendliness of working with like minded colleagues to help clients in his local area and further afield.

“I greatly enjoy my role utilising my experience to ensure that I can help my clients in the best way possible and simplify what is often viewed as a daunting and difficult process. I love the challenge of looking at a situation in a different way and finding a solution that others may not have thought of that will save my clients money not only now but in the future”

When Chris isn’t working he loves to find various ways to expose himself to danger, be it mountain biking, motorbiking, snowboarding or kiteboarding. He also loves to take time to travel in his campervan to explore new places around Scotland and overseas.

Margaret

Margaret is one of our Mortgage and Protection advisers. She started her career in finance working for a large highstreet bank . She enjoyed many varied roles in the bank culminating in becoming a branch manager.

After taking a career break to spend time with her children, Margaret felt it was time to re-enter the world of finance and was particularly interested in helping customers in a meaningful way. Having previously worked with Kerry and learning about her role as a Mortgage and Protection adviser, she knew this was the ideal role for her.

Margaret has been with Mortgage Time for two years and loves her job. She gets great satisfaction in helping her customers achieve their dreams and being helpful and supportive every step of the way . She helps her clients with all aspects of the mortgage process and ensures that their Insurance needs are also fulfilled.

“ There is no better feeling than accompanying a client on their journey and knowing that you have helped them become a homeowner. Many of my clients have become friends”

When Margaret isn’t working she enjoys spending time with her family, visiting her large family in Ireland and is usually found with her head stuck in a book .

meet kerry

Kerry is one of our founding partners and started her career in finance working for a major financial institution. In her time there she worked her way up the career ladder from cashier to branch manager.
Amazing highs and some lows during those 12 years (2008 need we say more!), however Kerry missed being part of the client journey .Being passionate about first class customer service and having an aptitude for maths and property through her own ventures, becoming a mortgage adviser was perfect next step.
Kerry has been a mortgage adviser for 8 years and company owner for 4 of these and truly commits to ensuring all clients of Mortgage Time feel heard, respected and they walk away feeling their mortgage journey was made easier, better and supportive.
‘I absolutely love my role as mortgage adviser, there is of course challenging moments however the highs massively outweigh the lows. I love nothing better than helping clients on their mortgage and insurance journey from the very beginning and speaking with them in the years that follow and catching up their lives. I aim to simplify the process, ease the stress and make their experience one they remember with a smile’
When Kerry isn’t working she loves to travel and explore the world. A huge animal lover, one of her biggest dreams is to open a doggy sanctuary for all the lost little fur babies in this world to live a happy, safe and fun life.