A remortgage is when you refinance the loan on your property and replace your existing mortgage on your property.
There are many reasons to look at a remortgage.
Whether you want to get a better deal on your existing mortgage repayments or borrow additional money on your mortgage for home improvements, we can guide you to the best deal. You may want to consolidate debts into your mortgage to reduce your monthly out goings.
You may want to change your mortgage and either get the mortgage cleared soon and save on interest over the term or extend the term and reduce your monthly payments.
We are here to go through your options with you so you have all the information and tools available to give you the best advice and give you all the options moving forward. Usually the best time to renew your mortgage options is 4 months before your existing deal is due to expire.
Do you want to extend your home or modernise your property. From time to time these are things that you have thought about often without having the money to do so. Many people choose to remortgage as a way of releasing equity in their property to allow them the funds to make the desired changes.
We can review consolidating debts for example, credit cards, personal loans and overdrafts into your mortgage. This may reduce your monthly out goings and make it easier to manage. We will review your options so you can choose whether this is something you want to do. Please note that consolidating debts into your mortgage moves your debts from a unsecured loan against your property to a secured loan against your property.
You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing other debts against your home.