Re-Mortgage

Re-mortgaging can be used to achieve a number of different objectives:

• Lower the interest rate you are paying
• Switch from Interest Only to Repayment
• Change the rate type, e.g fix it
• Home Improvements
• Debt Consolidation

Sadly there are a lot of homeowners sat on a Standard Variable Rate (SVR), which is typically higher than it needs to be. Being variable as well, means that any future increase in the bank of england base rate (although not directly linked) is likely to affect the Standard Variable rate.

By re-mortgaging, it may be possible to lower the rate and even fix it for a number of years. So even if the Bank of England increase the base rate, the rate you are paying will not be affected.

As well as fixed rates, we have access to discounted, tracker and a number of other types. We have access to hundreds of mortgage products and by asking structured questions, we can determine the best type of product for you.

If you are coming to the end of an existing ‘deal’ with your current provider, it is normally a good idea to start consider your ‘options’ at least 3 months before the rate ends. This will give you time to look at what your existing lender can offer you and the rest of the market. By setting up a new product when your existing deal ends, you can potentially avoid a hike in rate.

If you are coming to the end of a deal soon or just want to look at your options, give the Experts a call to see how we can help.