Could re-mortgaging save you money?
For many people, their mortgage is their most significant financial commitment. If you're someone who enjoys hunting for the best deals on holidays or phone contracts, then you're overlooking an opportunity to save money by not applying the same skills to your mortgage.
Here are some reasons to consider remortgaging:
1. Your current mortgage deal ends soon
This is a good time to check for better mortgage deals before moving to the lender’s standard variable rate.
2. You’re paying a high interest rate
If you are currently on a standard variable rate, switching to a fixed or tracker rate may lower your monthly payments or help you pay off your mortgage sooner.
3. Your mortgage doesn't suit your needs anymore
If you've received a pay raise or inherited some money and want to make extra payments to your mortgage, you might find that your current mortgage deal won't allow it or only permits limited overpayments.
Similarly, if you anticipate needing to miss a payment due to changing jobs or going back in to education, some mortgages offer payment holidays.
It's important to carefully consider the flexibility you desire in a mortgage, but keep in mind that lenders typically charge a slightly higher interest rate for these features. It's best to avoid choosing a mortgage with extra features unless you'll use them, as they come at a cost.
4. Your property has increased in value
In this situation, you could apply to borrow more for things like home improvements. Your decreased loan-to-value ratio may qualify you for a wider range of interest rates.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
This firm charges a fee of up to £795 for mortgage advice. The amount of the fee will depend upon your circumstances and will be discussed and agreed with you at the earliest opportunity.
The Process
Our goal is to ensure that the process is as stress-free as possible for you.
Step 1
Let's talk
Fill in a form or call us for a chat with one of our friendly expert mortgage advisers. We'll find out everything we need about your individual circumstances.
Step 2
We'll get to work
We're able to search for exclusive deals that are not on the high street. We'll do the work to find the most suitable mortgage for you and your specific needs.
Step 3
Relax!
We're with you every step of the way and our aim is to make the process as simple as possible for you.