Forever Home Mortgages
With a record number of remortgages coming to an end in 2025, we spoke to Marc Finch about what homeowners can expect in the coming year.
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What can you tell us about Forever Home Mortgages?
Forever Home Mortgages is a mortgage and protection specialist helping clients in Market Harborough, Leicestershire and across the UK with their mortgage and protection needs. We can offer advice for first time buyers, home movers, those looking to remortgage and buy to let mortgages from over 100 lenders. Importantly, we help make people more financially resilient through holistic protection advice covering; life insurance, income protection, home insurance and, new for 2025, private medical insurance. What is your background and what led you to starting the business? I actually spent 12 years working in broadcast media for broadcasters like Sky Sports News. However, when I started a family, it was time for a pivot and to finally use my economics degree! So, I began my property career as an estate agent before transitioning into mortgage advice in 2017. I wanted to be able to provide a really personal service, helping clients feel educated and empowered during the home buying process, as it can be really daunting. It was that desire that led to the launch of Forever Home Mortgages in May last year. What does the climate look like for homebuyers in 2025? Early indications show that we are in for a much more stable interest rate environment during 2025, with rates slowly edging down during the course of the year. The market is fragile, and small changes in the economy will continue to have ripple effects on the money markets. We do also have stamp duty changes coming into effect in April – with the thresholds of when stamp duty comes into play reducing back down to the same levels as 2022. With the average house price in Market Harborough being just over £330,000, those changes are going to add roughly £2,500 in costs to the average purchase in the town. There has been increasing levels of stock on the market, meaning buyers have more choice. However, that hasn’t stopped house prices remaining resolute and Rightmove are predicting house price increases of between 2-4% in 2025. This means home buyers shouldn’t put off decisions on moving home just to wait for cheaper interest rates, as any decreases are likely to be offset by increased house prices and those changes to stamp duty rates. What do people need to know if they are remortgaging over the coming year? 2025 sees the biggest number of fixed rates coming to an end and many of those customers will be coming off much lower interest rates, meaning it is likely their monthly payments will increase. Giving yourself as much time as possible to understand these changes is key, so it is advisable to start looking at this process six or seven months before the end of your current deal. This enables you to look at your options, and budget accordingly. Banks will only offer you the rates on their own products, so a broker can look across the whole market and help you get the most suitable deal for you. How can Forever Home Mortgages help specifically with those tasks? We firmly believe the home buying process should be enjoyable, so we try to strip the stress out of the journey – whether that’s buying your first or your forever home. We can help you negotiate with the estate agents to get the offer accepted and we will assist with solicitors and surveyors, so no stage of the process is overwhelming. In a fast-moving market, we also review your rates regularly, so should a better deal become available before you complete on your mortgage, we will notify you and look to switch. What is one thing you would advise readers who are remortgaging or moving house this year? Whether you are moving home or moving rate, it is vital that you review your protection to make sure you are able to keep the house if you are unable to work, fall ill or, worst of all, pass away. Only 30% of the population have life insurance and just one in ten of us protect the very thing that pays for our mortgage and other bills, our income. We can offer a free protection review at a time to suit you to discuss what products are available to you and tailor a plan specific to your needs, preferences and budget. All so you can protect you and your family should something happen. To chat to Marc about your upcoming move or remortgage, head to:
foreverhomemortgages.co.uk, call: 01858 786753 or email: [email protected] Your home may be repossessed if you do not keep up repayments on your mortgage. There may be a fee for mortgage advice. The precise amount will depend upon your circumstances but will be agreed with you before proceeding. |
Issue 24
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