Busy period continues as

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Analysis by Accord Mortgages shows that nearly a third (£29.1bn) of the total home loans ending this year will occur in December, while the second largest maturity month is October, when £26.3bn worth of mortgages will mature.

Accord managing director Jeremy Duncombe says: “With such a large proportion of the year’s mortgage deals maturing in the coming months it’s set to be a busy autumn and winter for intermediaries as borrowers, many of whom may now have changing and challenging circumstances to navigate, seek advice.

“Brokers who are able to plan ahead and reach out to existing clients have a huge window of opportunity to demonstrate the value of advice and help borrowers secure mortgages that best meet their needs.”

Many maturing homeowners are expected to face higher monthly repayments as the cost of borrowing has increased since the record-low deals witnessed in recent years.

Trinity Financial product director Aaron Strutt says: “With the cost of living crisis, and given that there are such a huge amount of mortgages coming up for renewal over the next few months, it’s even more important to ensure borrowers get the best possible deals.

“Many homeowners are worried about their mortgage repayments, and with the scale of rate rises, it’s vital brokers help them secure a new product as early as possible.”