Remortgage
Existing Product Switch and Further Advance
Get A Better Deal From Another Lender
When you remortgage, you are switching your mortgage to another deal, and frequently, another lender.
Remortgages can be used for various reasons. However, most people simply switch mortgages because it will work out cheaper for them. For example, the introductory discounted interest rate may have finished with your current lender; therefore you could potentially get a new discount rate, or a lower APR, with another lender.
Another example is when you may need to remortgage to consolidate debts or for an extension or a wedding or holidays.
It is worth noting that a remortgage is not the best option in all cases.
Even if the lender you are considering switching to is offering a lower APR, you must take into consideration the facts that:
- The new lender may charge you for valuation and solicitors fees, even if you have already paid these for your mortgage with your current lender.
- If you switch mortgage remember to look at the overall repayment period. You may be able to pay less monthly but check the final repayment date of the mortgage as well.
Also you may be able to switch your mortgage deal with your current lender, avoiding any unnecessary costs. Many lenders will allow you to switch your mortgage deal reasonably frequently. Our advisers can help you do any of these things, taking the stress away from yourself and giving you the guidance and expert advice to remortgage fast and efficiently
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 repayment charge to your existing lender if you remortgage.
Mortgage Services
– First Time Buyer
– Moving Home
– Remortgages
– Buy To Let
– New Build
– Insurance
– Protection
Want To Book An Appointment?
Call Mortgage Hand on 07792 198 361 or email info@mortgagehand.co.uk.