Remortgaging is the process of switching your existing mortgage to another mortgage lender, usually to lower the amount you’re paying on your mortgage or to a loan which has more flexibility. You are not obliged to stay with your exiting lender for the full term, and you may find that you could save a substantial amount of money by researching alternative lenders when the time comes.
Your existing lender will very often offer you a new rate to stay with them for another few years but you could find that what they are offering is not great as compared to what another lender will give you just to get your business.
It is also at this stage where clients will consider shortening their mortgage term by even just one or 2 years. It will normally put the monthly repayments up but also lets the client see that they do not have to have their mortgage forever and if it is managed correctly over the years it can be paid off sooner than expected if you take the right advice.
This is where we come in, trying to find you the best deal for you going forward with as little hassle as possible.
For mortgages, we can be paid by commission, a fee, or a combination of both. Our typical fee is £195.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP PAYMENTS ON YOUR MORTGAGE.
SECURING SHORT TERM DEBTS AGAINST YOUR HOME COULD INCREASE THE TERM OVER WHICH THEY ARE PAID AND THEREFORE INCREASE THE OVERALL AMOUNT PAYABLE.YOU MAY HAVE TO PAY AN EARLY REPAYMENET CHARGE TO YOUR EXISITING LENDER IF YOU REMORTGAGE.