We are remortgaging 

Find out how remortgaging can potentially save you thousands of pounds over the lifetime of your mortgage.

What is a remortgage?

A remortgage simply means switching from one mortgage lender to another to get a better deal.

Why should you remortgage?

You might think your current mortgage lender will offer you the best deal out there, but I’m sorry to say that often isn’t the case. They will only offer you what they have available and they won’t scan the whole of the mortgage market to find the best mortgage deal for you.

When should you remortgage?

There are several reasons for remortgaging your house.

(remember this just means switching your deal to save money)

4 reasons to remortgage... 

The end of your 2 year fixed rate mortgage term

The best time to look at a remortgage is 3 – 6 months before the end of the initial rate period (fixed, tracker, etc) on your current mortgage, as it takes a long time for a remortgage to be finalised. You can sometimes get a remortgage valuation through quicker than this, but it’s always best to be on the safe side. Allowing yourself plenty of time to sort out your remortgage, also means you’ll have a nice smooth change over from one mortgage lender to another, so as soon as one deal finishes the other one starts.

There are many other reasons you may want to remortgage. You might want some additional funds to do an extension to your property, to buy a car, get married, pay off credit cards and loans, etc and the good news is, these reasons are all acceptable. But the bad news is, not to every mortgage lender.

That’s where we come in. We find out from you exactly what you want to do  and then advise you on the best mortgage lender to remortgage with and then complete the whole transaction for you.

(Lower than when you took out your original mortgage)

When mortgage rates are extremely low it sometimes makes more financial sense to pay an early repayment charge and some fees to switch to a new lender and a better mortgage rate.  The savings on the new mortgage rate over a period of time, can outweigh the cost you’ll incur in remortgaging. One of our mortgage advisers is only a phone call away to determine whether it would be worthwhile or not.

One of the best things about buying a house is the rate at which the property increases in value. Sometimes the market drops, but if you look at historical property prices over a few decades, prices in the the housing market have always increased over the long term. Your property might increase in value quicker than you imagined and you could suddenly find yourself with a large amount of equity sitting in your home. Mortgage lenders will give you a much better rate if the amount you owe them is much lower than the value of the property. This is looked at as a % and is known as the loan to value (LTV). The lower the LTV on the mortgage, the better the rate you can get.

For example…

If your property is worth £250,000 and your mortgage is £225,000 your LTV is 90% – this means your mortgage rate will be higher

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