This money can also be used to ‘overpay’ your mortgage – the majority of standard mortgages enable you to overpay by up to 10% a year. “Ultimately, as well as the interest rate, flexibility is important,” says Johnson. “It’s important to talk to your adviser about the right mortgage for you, and how to maximise any overpayments to look beyond short-term gains.”
Nick Jones Wealth Planning can help you to understand your options and advise on the wisest strategy for making overpayments and minimising the interest you pay. They will also ensure you secure the right mortgage for your circumstances.
To receive a complimentary guide covering Wealth Management, Retirement Planning or Inheritance Tax Planning, produced by St. James’s Place Wealth Management, contact Nick Jones on 01743 240968, by email email@example.com or visit www.njwealthplanning.co.uk
The Partner Practice is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website www.sjp.co.uk/products. The title ‘Partner Practice’ is the marketing term used to describe St. James’s Place representatives.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The levels and bases of taxation, and reliefs from taxation, can change at any time and are generally dependent on individual circumstances.1 Stamp Duty Land Tax: temporary reduced rates, HM Revenue & Customs, July 2020