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Re-mortgage

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Is your loyalty to your lender costing you thousands?

A lot of people will stay with their existing lender as it seems like the easiest, hassle free option, but by doing this it may be that you are paying far too much for your mortgage which is possibly one of your biggest monthly expenses.

We can help you to save money or assist you in borrowing additional funds for home improvements.

Our consultants will assess the risks and benefits of both changing to a new lender and compare what your existing lender will offer you and once we establish the best way forward we will work to ensure that the process is completed quickly and efficiently.

Once your mortgage has completed our customer relations team will keep in touch with you throughout the term of your mortgage and will write to you before your rate ends to avoid transferring to your lenders standard variable rate.




Frequently Asked Questions:


What is Remortgaging?

Remortgaging is when you switch your current mortgage to a new lender. You are not moving house and the mortgage is secured against the same property.


Why should I remortgage?

Most people will remortgage when their current fixed rate comes to an end to avoid switching to the lenders Standard Variable Rate (SVR) which is usually higher.

The more equity you have in your property will determine what rates will be available to you, as having a lower loan to value (LTV) can mean more competitive rates will be available.


Can I remortgage to raise money for home improvements?

The short answer is yes! The lender will always ask why you are raising money when remortgaging. and will assess affordability for the new funds, However this isn't usually a problem.


Can I remortgage to purchase another property?
 
 Yes you can. Providing you can prove that both mortgages are affordable in line with the lenders affordability calculations.

There are several different purchase types that you can raise money to buy:

  1. Buy to Let property
  2. Holiday Home
  3. Holiday Let 
  4. Second Home

There are a number of factors to take into account that will impact borrowing for these types of property.

  1. Equity in property you want to raise funds on
  2. Affordability
  3. Credit History
  4. Property Type
  5. Personal Circumstances

We can advise and guide you through the process and all criteria.