Blog by Boychuk Mortgage Group

Discover the keys to successful property investment in Surrey with our latest blog post. Learn how to utilize deep local market insights and strategic financial planning to ensure sustainable growth in real estate. We delve into effective strategies that align with long-term investment goals, helping you make informed decisions that maximize your returns. Whether you're a seasoned investor or a first-time buyer, this guide provides valuable information on navigating the complexities of the Surrey real estate market.

One of the first decisions homebuyers and mortgage shoppers face is whether to select a fixed-rate or variable-rate mortgage. Both have their own set of advantages and disadvantages, and it's important to weigh them carefully before making a decision.

As a homeowner, you're aware of the costs and commitment involved in servicing your mortgage payments. A mortgage is often the most significant expense you'll take on during your lifetime, and it can directly impact other aspects of your finances such as your disposable income, savings, and other debt you can carry comfortably. Therefore, structuring your mortgage in a way that enhances your lifestyle, saves you money, and improves your financial standing is vital.

One tactic you may wish to consider is refinancing your mortgage. It entails breaking your existing mortgage contract and replacing it with a new one that, ideally, has more favourable terms. If implemented at the right time and for the right reasons, refinancing your mortgage can yield tremendous benefits. Let's explore the main ones below.