Looking for ways to cut your monthly mortgage bill? This real-life case study shows how our team at Oportfolio Mortgages in Putney helped one local family reduce their repayments by £300 every month, without moving home or changing their lifestyle. Just with the help of an expert Putney mortgage adviser.
Meet the Fredericks: A Growing Family in Putney
The Fredericks (name changed for privacy) had lived in their three-bedroom Putney home for five years. With two young children and nursery fees climbing, their household budget was under pressure. Their mortgage deal, a five-year fixed rate taken in 2020 was about to end. They were worried about:
- Rising interest rates
- Moving onto their lender’s Standard Variable Rate (SVR)
- Monthly payments jumping by several hundred pounds
The Challenge
Their existing lender’s renewal offer would have increased their repayments by almost £400 per month. The family wanted a more affordable option but also needed:
- Certainty: A fixed rate for the next few years
- Flexibility: The ability to make overpayments when their income allowed
- Speed: Their current deal expired in just six weeks.
Our Approach
As independent mortgage advisers in Putney with 30 years experience, we took these steps:
Full Mortgage Review: We analysed the Fredericks’ current loan, outstanding balance and future plans.
Market Research: We compared deals from dozens of lenders, looking for competitive fixed-rate options with reasonable fees.
Negotiation & Application: We liaised with the chosen lender to secure a decision in principle quickly, ensuring there was no break between their old and new deal.
The Result: £300 Saved Every Month
Within two weeks we had secured a new five-year fixed rate at a significantly lower interest rate than their lender’s SVR.
This meant that the Fredericks were paying £300 less in monthly repayments, an annual saving of £3,600. It also meant that they had peace of mind knowing their rate is fixed until 2030. The mortgage product that we helped them to secure allows up to 10% overpayments each year without penalty, meaning that they had flexibility to overpay their mortgage if they chose to.
“We were dreading the jump in payments,” Mrs Fredericks told us. “But Oliver and the team at Oportfolio handled everything and kept us informed at every step. Now we can plan our finances with confidence.”
Key Takeaways for Putney Homeowners
- Don’t wait for your deal to expire. Start exploring remortgage options at least six months before your current rate ends.
- Independent advice matters. Whole-of-market brokers can access deals you might not find directly.
- Check the fine print. Features such as overpayment allowances can make a big difference long-term.
Ready to Review Your Mortgage?
If your fixed rate is ending soon, or you simply want to check you’re not overpaying, our Putney mortgage advisers can help you compare the market and find a better deal. Contact Oportfolio Mortgages today to arrange a no-obligation mortgage review.
