What is a remortgage and how you can be certain you’re getting the right advice
In short, remortgaging is a way to find the right mortgage deal on your current property. You pay off the one mortgage with the new mortgage deal using the same property as security.
Before you decide to go ahead and switch to a new mortgage deal you may want to speak to one of our experts who can help you go through the process with you and explain anything in plain and simple English.
Download our remortgaging guide and get in touch
Your home may be repossessed if you do not keep up repayments on your mortgage. You may be charged a fee for mortgage advice. The precise amount will depend on your circumstances but we estimate it will be £495.00.
Why remortgage?
There are a number of reasons why people choose to remortgage. We have included some of them below.
Take advantage of low interest rates
Interest rates may have reduced since you took out your last mortgage, saving you money in the long run.
Your fixed deal is up for renewal
Your current fixed deal could be due for renewal, meaning that you will be put on your lenders variable interest rate. This can mean your monthly payments can change regularly and you could end up paying more.
You want to move from interest only to a repayment mortgage
Your circumstances may have changed and you now want to change your deal from an interest only mortgage to a repayment mortgage.
You want to make overpayments
Some mortgages allow you make overpayments without any penalty. These are usually capped to a certain percent per year, but could mean you end up paying less in the long run.
You want to borrow more
If your looking to consolidate your debts or even pay for an extension, a remortgage can allow you to borrow more at a low rate of interest.
Your home’s value has gone up
If the value of your home has increased rapidly since you took out your mortgage, you might find you’re in a lower loan to value band, and eligible for much lower rates.
How to get in touch
Simply complete the form here;
Check your inbox for a copy of your guide;
Give one of our equity release specialists a call on 01564 791 117 with any questions you may have after reading the guide.
Read more about remortgaging on our blog
Could you save money by remortgaging? Possibly
Everywhere you turn there are articles and stories [...]
Could you save money by remortgaging? Possibly. Should you rush and panic to do so? Definitely Not
Everywhere you turn there are articles and stories [...]
Warnings of rising rates
Time is running out on remortgage opportunity! While [...]
Declining rates: Is now a good time to remortgage?
“Average mortgage rates for two- and five-year fixed deals have [...]
Divorce: What could it mean for your finances
According to the BBC’s ‘The Life Project’*, leading [...]
Homeowners, could you be saving more than £2,000 on average this year?
For the majority of homeowners, a mortgage is [...]
See what our customers say
Very helpful and you will get a quick reply on your queries. The best to describe his service would be, “When you feel like you are hopeless to get a mortgage and you want to give up. Sam is the man for this job because he won’t give up until you get your dream house.”
There is a broker fee for his service but really worth it because he works really hard to help you find a better deal that suits your needs and finances.
Thank you Sam for all your hardwork! God bless you more.”