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New Year property resolutions for 2017

People very often fail to keep the New Year resolutions which they make every year, but some resolutions for home owners will help to improve finances during the next 12 months.

Look for a better mortgage deal, so that you can save money on your loan. You may be able to find a deal which lowers your monthly repayments, and also reduces the amount outstanding overall and the length of the mortgage term. Finding a deal which is just 0.5% lower, can save you thousands. Mortgage advisers spend time on a CeMAP training course, which helps them to learn about the various lenders and their deals.

Overpay on your mortgage so that you can reduce the amount outstanding, even if it is just a few pounds each month. Whilst interest rates are low, it is a perfect time to make regular overpayments. Most lenders will permit borrowers to overpay by 10% each year, but check with your own lender first.

Consider ways to save energy in your home, like insulating the loft or installing cavity wall insulation. Keeping your home warm and preventing the heat from escaping through the walls and roof will help to reduce your energy bills. You may also benefit from checking that your boiler is working to its optimum, by arranging an annual service. You can also arrange cover for your boiler and central heating, which may save money on expensive repair bills.

Lowering outgoings in the home will leave you spare cash to pay off your mortgage loan, possibly reducing the mortgage term.

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