Remortgages
There's a few reasons why you might be looking to remortgage, but whatever, the reason we can help to assess all of the options and find you the best interest rate
A remortgage is where you swap your mortgage from one lender to another, typically this is done when your current fixed rate or deal is coming to an end to ensure that you’re always on a good deal.
When people come to remortgage they may also consider raising additional equity from their property perhaps for home improvements or even to purchase another property as an investment. If you’re considering raising equity from your property then we can help you to assess the options, even if you’re current mortgage deal isn’t coming up to an end soon we can always help to find the most cost-effective solution for you to raise the equity needed.
If your fixed rate is coming up to an end then you should look to review this sooner rather than later
You can start looking at your remortgage options around 6 months before your current deal is due to expire. We would recommend getting in touch with a mortgage adviser as early as possible to reduce the risk of your current mortgage payments reverting to the standard variable rate when your current deal comes to an end as this could become quite costly for you!
*You may need to pay an early repayment charge to your current lender if you remortgage*
Don't leave it too late to review your options, get in touch today so that we can help to ensure the process is as smooth as possible.
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We’ll take into consideration your individual circumstances in order to find the most suitable lender for your case,
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Remortgages
If your current deal is coming to an end or if you need to pull out some equity from your property, then get in touch today so that we can help to find the most cost-effective solution for you.
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Check out our frequently asked questions below and if you have any of your own then get in touch and we'll happily answer those for you!
Remortgage FAQs
Your mortgage is likely to be your largest financial commitment, it makes sense that you'll always want to be on the best interest rates and so that is the main benefit of a remortgage - to review your options and ensure you're always getting the best deal possible at that time.
There are lots of other reasons why remortgaging your property could be beneficial, for example if you need to raise equity to carry out the extension you've always wanted or if you need to clear off some other debts.
If you don't review your options before your deal ends you could fall onto your lenders Standard Variable Rate, which could end up being quite costly. In general remortgaging can help to save homeowners some money which in our eyes, is always beneficial!
You should think carefully before securing other debts against your home. By adding your unsecured debts to your mortgage, which is secured on your home, you are potentially putting your home at risk if you cannot make the required repayments.
Although the total monthly cost of servicing your debt may have reduced, the total cost of repayment may still have risen as the term of your mortgage is longer than it may have taken to repay the debts originally.
There are other options such as a product transfer or staying with your current lender on the standard variable rate.
The best option for you will be determined by your individual circumstances and future plans.
Most lenders will allow you to remortgage a property even if it is owned outright. The lender will carry out affordability checks to determine how much you are able to lend against the property.