Remortgage
A remortgage involves renewing or increasing the mortgage on a property you already own. It may also allow you to access capital on a mortgage-free property. Your mortgage is likely your biggest financial commitment. Just as you would for the best deals on other purchases, it's essential to periodically evaluate your mortgage to ensure it still meets your needs, rather than simply sticking with your original lender.
We are committed to identifying the ideal deal that aligns with your individual needs, budget, and circumstances. With access to over 10,000 mortgage options from more than 100 lenders, we streamline the process, saving you valuable time.
Remortgaging may also facilitate a capital raise, allowing you to increase your borrowing for purposes such as home improvements. Our team will navigate the available mortgage options and provide tailored recommendations to suit your specific requirements.
Our assistance extends beyond mortgage solutions. We can help safeguard your new home and your well-being through home and life insurance options. Additionally, we can recommend a solicitor to support you throughout the entire journey, ensuring you remain informed and updated on every milestone along the way.
To ensure a smooth transition, we recommend contacting us up to 6 months prior to the expiration of your current mortgage product. This proactive step will help you secure the most favorable rate and prevent any automatic shift to your lender's Standard Variable Rate. Please note that there may be costs associated with remortgaging, and we will provide a clear breakdown of these expenses before advising on the potential benefits of remortgaging.
Should you decide to remortgage, be aware that an Early Repayment Charge (ERC) may apply, particularly if you are still within a fixed-rate agreement. This charge is typically calculated as a percentage of your outstanding mortgage balance, depending on the remaining term. We will ensure you are fully informed of any costs involved prior to recommending a remortgage. Additionally, if you intend to release equity from your property for a lump sum, this will increase your overall borrowing and, consequently, your mortgage payments.
The amount of equity available and the desired release sum may also result in a higher interest rate, as your loan-to-value (LTV) ratio could decrease. If you are contemplating remortgaging to consolidate debts or finance a project, it is crucial to conduct a thorough financial analysis. While mortgages generally offer lower interest rates compared to credit cards or personal loans, extending the borrowing period can lead to higher overall costs. We will ensure you are aware of these considerations before recommending the merits of remortgaging.
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Schedule your financial review now by calling us on 01633 422000, and we’ll be happy to assist you.
TESTIMONIALS
"Top service. Paul went above and beyond and I highly recommend him. We were abroad at the time of application but the application was stress free thanks to Pauls responsiveness, he always took time to explain everything even over the message which I appreciated due to time difference. Mortgage was approved by the time we returned."​​​
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4th Jan 2024
Darina Hab
"Myself and my wife are incredibly happy with Paul's service, he has been amazing, being first time buyers we had no clue where to start and he guided us through everything and took the stress out of the entire situation. Paul's communication was fantastic and he kept me in the loop always and went above and beyond in finding us the right mortgage. Thank you again Paul you've made us both very happy"
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6th Sept 2024
Brad Bradley
"I would highly recommend Paul, he made the whole precess so easy and straightforward. He would explain everything simply which made it much easier to understand and take in. Excellent mortgage advisor!!"
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11th Jul 2023
Shauna Bagenal