Staying on top of your mortgage situation is essential. Over half of UK homeowners overspend by thousands of pounds on their mortgage by going onto the standard variable rate and not remortgaging. Most of us stay on top of our mobile phone contracts, car insurance and utility services, so we also need to make sure that your mortgage rate is the best it can be.
We know choice is important, so we have access to over 50 of the UK’s best known lenders offering thousands of mortgages, and some exclusive deals that you won’t find anywhere else. But we also know that choice requires guidance and advice. We spend time getting to know you and your specific circumstances, and we will help you understand:
- How much you can borrow
- The extra costs you need to consider
- How to protect your investment
- Which mortgage deal is most suitable
Most importantly, we’ll support you throughout the purchase process. That way, you can be sure someone is there to guide you every step of the way. With rates at a record low, there may never be a better time to remortgage…
Reasons To Re-Mortgage
You Want To Save Money
Going on to the standard-variable-rate at the end of your fixed term may not be the best mortgage rate available to you. By contacting one of our Mortgage Advisers 3-4 months before your current mortgage expires, we can ensure you are always on the rate that's right for you.
You Want to Borrow More
If there has been an increase in your income and/or an increase in your properties value, you may be able to increase the value of your mortgage amount. This can be beneficial for any major financial outlays such as weddings or your children's university fees, especially as it can be cheaper than borrowing from other sources.
You Want To Consolidate Debt
Remortgaging can enable you to consolidate other debts such as credit cards and loans, which typically have a higher interest rate than a mortgage. However it could mean that you pay more interest over your mortgage period, so should be carefully discussed with one of our qualified Mortgage Advisers.
You Want More Flexibility
Maybe you have inherited some money, or had a pay rise and want to pay extra off your mortgage, but your current deal limits your over-payments. A remortgage will allow you to reduce the size of your loan and possibly get a better interest rate.
Your Current Deal Is About to End
Even if none of the above situations particularly relate to you, when your current mortgage comes to an end, you will be put on your lender's standard variable rate, which is likely to be higher than both your previous rate and current deals available. Call us 3-4 months before your deals ends to get ready to re-mortgage on to a better rate.
How We Can Help With Re-Mortgaging
Re-mortgaging is every bit as important as selecting your first mortgage. You can re-mortgage by getting a different rate with your existing mortgage provider or by switching to a new lender. Our qualified Mortgage Advisers can assess your personal circumstance, the current deals available and match you up to the right solution.
There are many different options when re-mortgaging; fixed rate or variable discount rates, mortgage terms ranging from 2, 3 or 5 years in length. There may be fees involved such as early repayment charges, valuation fees and legal fees. So when re-mortgaging, it's important to fully understand all of the details, but don't worry, our experienced Mortgage Advisers will guide you every step of the way!