Why Remortgage?

There are many good reasons to switch your mortgage on your existing home. It may be that you want to save money on your monthly mortgage payments, pay your mortgage off early or raise capital. When your current mortgage deal is coming to an end or your house value has increased you may find you can save significant amounts on monthly payments by switching your mortgage.

With many lenders now offering no upfront fees and free legal work, and with rates at an historical low, there has never been a better time to consider switching your mortgage.

To find out how much you could save or raise by remortgaging, get in touch with us today.

How much can I borrow?

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Guide to Remortgaging

Remortgaging your home can seem daunting – all that paperwork! But it needn’t be a hassle. In fact, it’s something we should all address regularly to make sure we’re still on the most suitable mortgage deal available to us.

It’s important to that you start shopping around for a new deal before your current mortgage gets transferred onto your lender’s standard variable rate (SVR) – as this could be considerably higher than your current rate, which may make mortgage payments a real stretch.

There are a range of different remortgage products available on the market, and to remove any confusion or stress, we’ll happily shop around for you to find the type which suits you best.

In essence, these deals may be no different to the first mortgage you took out. But depending on your financial situation at the time that your first, or subsequent, mortgage deals have come to an end, as well as the status of the mortgage market itself, you may want to weigh up the different types of remortgage deals.

The rates offered on a remortgage deal may vary according to a range of factors.

These can include:

  • The value of your property and whether it has increased since you originally took out a mortgage
  • How much of your property you own outright
  • How much you wish to borrow from a lender
  • Your income

Of course, you will have the same factors to deal with, that you had to consider when taking out your first mortgage. These will all affect how much you’re able to borrow and the flexibility you can have from a new mortgage deal.

Our Chartered Financial Planners will search all available deals from all available lenders to choose the right deals for you, based on quality of service as well as the cost and benefits.

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