Remortgage
A lot of borrowers remortgage every few years to benefit from new rates and products to fit the changing circumstances in their life. They change their current mortgage for a new deal with their current lender or a new lender.
Remortgaging is good as you can benefit from new rates.
Remortgaging is good as you can benefit from new rates.
Remortgaging is good as you can benefit from new rates.
A remortgaging decision is something that should be handled with great care. If you are looking forward to getting better rates from a mortgage, the following are some steps that you know about:
Remortgaging Considerations
Remortgaging is good as you can benefit from new rates.
Remortgaging is good as you can benefit from new rates.
If you are thinking of going for a remortgaging, you need to contact our financial advisers that will evaluate your needs and the deals that are on ground before giving you sound advice on the best remortgage options for you.
Remortgaging will benefit you the following ways:
It will help you save money
It is good for a change in lifestyle
It will help you avoid moving homes
If you stay on the same deal for the entire full term of your loan, you might miss opportunities to reduce the total amount of money that you will pay back. You could save a lot of money through a remortgage.
It will help you avoid moving homes
It is good for a change in lifestyle
It will help you avoid moving homes
It might be more convenient and cheaper to change or add an extension to your current home than move to a new home. This can be paid for by a further advance or remortgaging.
It is good for a change in lifestyle
It is good for a change in lifestyle
It is good for a change in lifestyle
If there is a change in your finances, a remortgage can be better for you. A remortgage could get you higher or lower monthly rates depending on what your new lifestyle can accommodate.
It can help you raise money
It will help you consolidate your debts
It is good for a change in lifestyle
You can raise money for some things through a remortgage. An increase in the value of your property means that your mortgage could be increased to pay for things like the tuition of your children, a wedding and other expenses. This way, you won’t need to borrow money separately.
It will help you consolidate your debts
It will help you consolidate your debts
It will help you consolidate your debts
Through remortgaging you can release some equity that you hold in your home and you can consolidate debts like credit cards and car loans. These other debts could incur higher interest rates than your mortgage. This will reduce monthly payments but you might pay more money on the long run so you should consider this carefully and you should seek for sound financial advice before deciding to go for it.
A remortgage is not easy if:
You just became self-employed
Your early repayment charges are high
Your early repayment charges are high
Lenders need to be sure that you can repay any loan that you undertake. They will ask you for your likely future income. If you just became a self-employed person from an employee you will need more time to build a good record for your business before some lenders will consider you for a remortgage.
Your early repayment charges are high
Your early repayment charges are high
Your early repayment charges are high
if you have taken out a discount mortgage or fixed rate mortgage recently, you might discover that the early repayment charges could be expensive and you might need to take your loan elsewhere in the early years. For some cases, the charges can be more the savings that one gets from switching to the new mortgage.
You want a small loan
You need to borrow a large percentage of the property’s value
You need to borrow a large percentage of the property’s value
A lot of remortgage applications won’t be considered if the loan is below a minimum amount. Small mortgage loans may also have some fees that might be more than the small savings that the remortgage offers.
You need to borrow a large percentage of the property’s value
You need to borrow a large percentage of the property’s value
You need to borrow a large percentage of the property’s value
A larger down payment will likely get you access to better rates. If you don’t own up to 5 or 10% of your property, it may be difficult to access competitive rates.
REMORTGAGE WITH US
Do you have any questions? Would you like to find out if this is a suitable option for you?
the process of remortgage
You select a new mortgage
You select a new mortgage
You select a new mortgage
You must consider all the costs that is involved especially any repayment charges that might need to be paid. This way you can see if the deal will favor you or not. We will help you find a product that is suitable for you.
You make an application
You select a new mortgage
You select a new mortgage
The application process is the same as when you buy a new property. The lender has to underwrite the application. The lender will need information on your financial situation and how the loan can be maintained.
A valuation will take place
A valuation will take place
A valuation will take place
There will be another valuation of your property by a surveyor. The surveyor will evaluate your property for any damage or change in condition. After the valuation, an offer will be made. A solicitor will conduct local searches and send a title and report to the lender.
You settle in
A valuation will take place
A valuation will take place
The last step involves the solicitor ensuring that your former lender is paid when the new lender releases the new mortgage funds. Before or after completion, the solicitor will release any additional funds you are borrowing.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.
Best Brokers is a trading style of Financial Expert Mortgages Ltd which Is appointed representative of Financial Expert Partnership Ltd which Is Authorised And Regulated By The Financial Conduct Authority. Best Brokers and Financial Expert Mortgages Ltd act as a credit broker not a lender.
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