TEAM NEWS
This month, learn about fabulous Olga Bogdanova, who has been an invaluable member of the Stratton Thorpe team for three years….
Where are you based, and why do you love it?
At the end of 2024, my family and I finally turned a long-held dream into reality by moving to Poole in Dorset. We always wanted to live closer to the seaside because who doesn’t prefer sand between their toes over that between sofa cushions?
Since arriving, we’ve embraced our new life in Poole. It’s beautiful, filled with hidden gems, and always offers something new to explore. The kids adjusted to their new schools quickly, making new friends while we unpacked the last few boxes still lingering in the garage.
When I’m not helping clients with home-buying plans, you’ll find me exploring the coastline, trying new restaurants, or struggling to keep up with my kids on their scooters!
Your favourite local restaurant is…
One of my favourite things is grabbing coffee (and usually a cake) at Patisserie Mark Bennett’s. The coffee is excellent, the cakes are delicious, and it’s a great place to strike up conversations with new people. It feels like a local community hub!
Top advice for homeowners in 2025?
Don’t wait too long to live your dream life—whether that means moving near the sea, buying your first home, or finding friendly neighbours. Start planning early and develop a habit of saving consistently, even small amounts. Consider it a gift to your future self, who will appreciate it when you hold the keys to your new home. And don’t stress about mortgages; I'm here to help!
MORTGAGE NEWS
3 ways to become mortgage-free sooner
Dreaming of paying off your mortgage? Here are a few ways to make it a reality
1. Make Extra Payments
Many fixed-rate mortgages allow you to overpay up to 10% of the remaining balance each year. This helps lower your mortgage faster without early repayment charges. With tracker or variable-rate mortgages, you may have more flexibility to make extra payments.
2. Shorten Your Mortgage Term
Reducing your mortgage term will increase monthly payments but help you pay it off sooner. Ensure your budget can handle the higher payments and check your lender's policies on term changes.
3. Refinance
Consider refinancing for a better interest rate, which can accelerate principal repayment. Consult a mortgage broker for the best options, but be mindful of any early repayment charges.
Book an appointment with our team to chat through your options.
Interest rate cut ‘increasingly likely’ in August
Nationwide, Santander and Barclays are among the lenders that have cut prices, and experts say this could be a signal of an impending interest rate cut.
There has been a flurry of rate cuts this week, with TSB, HSBC and Principality Building Society also reducing prices as lenders become competitive ahead of the summer holidays.
Whilst no one can say with certainty what will happen to interest rates going forward, there may still be borrowers who are hoping for further rate cuts before committing to a mortgage.
Many lenders are now offering products lasting 12 to 18 months, which provide a good balance between keeping options open and offering protection against sudden rises.
Tracker mortgages are also very much back in favour. They typically start lower than SVRs and often come without early repayment charges, giving borrowers the flexibility to lock into a fixed deal later if rates fall.
SOURCE: What Mortgage
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