MortgageDrive - Get The Best Mortgage For You

We designed MortgageDrive to show people that mortgage providers are not for life and that you can save thousands by switching mortgage suppliers once your current deal comes up for renewal. It maybe that your current provider advises you stay with them. But MortgageDrive recommends that you check out the whole market and see if there is a better mortgage out there.

You don’t have to spend hours poring over rates and terms you can trust a specialist supplier who searches for the best deal and digitally switches you to another supplier and a better rate. No need to visit branches or go through endless paperwork.

It’s not just about switching mortgages MortgageDrive can also provide help with first time mortgages, buy to let mortgages, longer term retirement mortgages.
Take a look at some of the facts below and you will see it makes sense to stop and look at your current situation and then find help to reduce your outgoings.

Mortgage Facts

0.1 million
mortgages

There are 1.1 million mortgages in the UK

1000
re-mortgages

There were 423,000 remortgages completed in 2017

1 %
Interest rate

At the end of February 2018 the average mortgage interest rate was 2.63%

1
Lenders

There are 340 mortgage lenders wanting your custom

People find it stressful switching mortgage providers
Of average annual disposable income is mortgage interest payment
Less buy to let mortgages in August 2018 than a year earlier
Market share of mortgage balances by the top 6 lenders

Mortgages are changing - loans in Q2 2018

Breakdown of gross advances by purpose of loan

The chart on the right shows that:in Q2 2018 the amount of new loans driven by an increase in house moves increased (by 1.9%), but remortgages to existing borrowers fell (by 2.0%) over the previous quarter. The share of buy-to-let decreased.

The proportion of total borrowings in arrears fell again to its lowest level so far.

mortgage advances by purpose

For visitors

Why don't you join us?

You can register to join us as a member, when you’ll be able to download our stuff and comment, or as a YouDriver when you’ll also be able to check your health and set up your own action plans to make some improvements.  If you’ve already registered, sign in below. Or let us know what you think.

What is an offset mortgage

What is an offset mortgage?

This video by aMortgagenow explains what an offset mortgage is.  This mortgage is linked to a bank account, so that payments are reduced by offsetting interest payments against savings and bank account balances.

Whether choosing an interest only, repayment or offset mortgage or renting,
I'll make the decision myself,I'll seek professional advice
to get the right answer

The box below shows some ideas on working out what to do.  Hover over it and it will switch to show you information on how you can get expert help.  Click the button on the back to see YouDrive’s view!

I'll sort this out myself

I can use Google and look on price comparison websites to get the best answer for me

I'll get professional advice

This is a big decision so I'll look for professional help.
Click Here for more information and YouDrive comment
"If you rent, the rent goes up every year. But if you buy a 30-year mortgage, the cost is fixed."
john paulsen
John Paulsen
Founder of Microsoft

Next Steps

It doesn’t matter what stage  you’re at – it’s important to be the best you can be.  At the end of the day it’s about taking personal responsibility – You Drive!

It’s really your choice. You can find out more information about the subject, or see other institutions that can help by going to Support. There you will find organisations, training, coaching, self-help courses and other items to support your personal change. We have also started developing a panel of experts to provide info, advice, help and support. 

More Information

Scroll down to see more information on this Drive.  If you register with us by providing an email address you can also download reports, white papers, quizzes and other collaterals.  Don’t worry, we will never ask you for any financial information, and we’ll only send you the information you want.

You can register for our site either above or in the footer below, and there’s more information available and you can comment and participate in discussions too.  We want to encourage our members to provide their own questions and experiences in order to help other members.  We only moderate for spam and inflammatory language – see our moderation policy here.

Soon you will be able to register as a YouDriver – you’ll get your own health dashboard, be able to assess your own health, look at how to improve it and build your own action plans.

We also show you links to other sites offering support in this area and also some products and services which might help you on our Support pages, which you can go to by clicking the Support button below.

Get Support

There are times when you need some help to meet your aims. At YouDriveHealth we try to help you to take control of your own health. Sometimes however you need a helping hand.

As the next step we are compiling a list of experts who can help you, whether by providing advice, help or specialised services.  In the future you will be able to access these experts from anywhere on our site you see our ‘Experts’ symbol.

We will be adding to our list of experts continually; we try to recommend things and partners that we have used ourselves, but obviously we can’t take any responsibility for any specific outcomes.  

If you click the button you’ll see what our Experts list will look like, with a couple of imaginary ‘experts’ added!

If you’ve found this interesting, then please share it on social media!  Choose your network!

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See what other things can help

More information

The Citizens Advice Bureau have information on managing your mortgage

The Money Advice Service give some guidance on mortgages

The Financial Conduct Authority have some tips and advice on finding an adviser

Scope provide advice for disabled people on getting a mortgage

The Personal Finance Society have a Society of Mortgage Professionals for advisers

MoneySavingExpert have a mortgage guide for first time buyers – download it here.

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