Remortgage
As one of the largest financial commitments that you’ll ever make, a mortgage is an extremely important life decision. Our team are here to give mortgage advice as we help you navigate the wide range of remortgage products on the marketplace. Our team of Mortgage Advisers across the North will personalise our services to your needs.
What Is Remortgaging?
Remortgaging means switching your mortgage to another deal with another lender, without moving home. When the initial interest rate comes to an end, it is likely that you have reverted to the lenders standard variable rate or SVR.
What is a Standard Variable Rate?
Generally, the SVR isn’t the cheapest option and can be higher than alternatives either offered by your existing lender or a new one so switching mortgage deals can therefore often work out much cheaper and save you money either monthly, long term, or both.
Can Remortgaging Help Pay Off My Mortgage Early?
Remortgaging can also help pay off your mortgage early by replacing your current mortgage with better terms a lower interest rate and keeping your monthly payments the same, you will be able to reduce your mortgage term and get your mortgage repaid quicker.
Is Remortgaging Complicated?
Remortgaging isnt complicated, the process to switch your mortgage deal can be straight forward with lenders often offering great incentives to make the process much easier.
Do I Have To Change Lenders?
You may be able to find a new mortgage deal with your current lender and it may even work out cheaper to do so. Always check it against the rest of the market place though, just to make sure you are getting the right deal right for you.
What Is An ERC?
Most mortgages have an early repayment charge (ERC) during the initial deal period, so you cant remortgage during that time without paying a penalty charge. However, once your deal is up, you are free to move your mortgage without paying these fees.
Why Remortgage?
There are lots of great reasons to remortgage outside of trying to secure a better rate. You could remortgage for home improvements, debt consolidation or even if you have bad credit.
What we are proud of
Why Choose Us?
We are raising the standards of financial advice.
Accessible
Making financial advice accessible to all
Trusted
Trusted & stress-free financial advice
Friendly
Friendly, personable advisers.
Download Your Credit Report
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Some Buy to Let mortgages and some Bridging Finance is not regulated by the Financial Conduct Authority.A Lifetime Mortgage is not suitable for everyone and may affect your entitlement to means tested benefits, so it is important to seek financial advice before taking any action. If you are considering releasing equity from your home, you should consider all options available before equity release.
The interest that may be accrued over the long term with a Lifetime Mortgage, may mean it is not the cheapest solution. As interest is charged on both the original loan and the interest that has been added, the amount you owe will increase over time, reducing the equity left in your home and the value of any inheritance, potentially to nothing.
Although the final decision is yours, you are encouraged to discuss your plans with your family and beneficiaries, as a Lifetime Mortgage could have an impact on any potential inheritance. We would also encourage you to invite them to join any meetings with your Financial Adviser so they can ask questions and join in the decision, as we believe it is better to discuss your decision with them before you go ahead.
We have Advisers based across the UK so get in touch today to arrange your appointment and see how we may be able to help you – we offer virtual and telephone appointments at a time to suit you.