Remortgaging is the process of moving your current home loan to a new lender, without actually buying a new property. Doing this could save you a lot of money. Millions of people have mortgages which are on their lender's standard variable rate and could be much better off by transferring the mortgage to a different product or lender offering a special deal or cheaper interest rate.
Switch to a cheaper mortgage rate
It is estimated that more than half of all borrowers in the UK are continuing to pay over the odds for their mortgage each month.
Switching to a cheaper deal is one of the easiest ways that homeowners can save money.
For example, someone with a £100,000 loan who switches from a standard variable rate deal could save about £1,000 a year for each one-percentage point reduction in their interest rate.
The UK mortgage market is very competitive and it makes sense to review your mortgage regularly to see whether there are better deals available.
There are four main reasons why you might choose to
remortgage to a better deal
1. to benefit from a lower interest rate
2. to change over from a variable interest rate to a fixed or capped rate
3. to release equity in your property
4. to change to a more flexible mortgage in order to alter the pattern of your payments.
Most people find it easy to switch mortgage products and remortgage.
As independent mortgage advisers we have access to thousands of mortgage products from hundreds of mortgage lenders in the UK. We offer a nationwide service and can help you whatever your credit history.
It costs you nothing to see what products are available and what your options are. We will direct you to the best deals for your circumstances and requirements and let you know how much money you could save with a remortgage.
Simply contact us today for a no obligation mortgage quote.
Your home may be repossessed if you do not keep up repayments on your mortgage
A FEE MAY BE PAYABLE TO THE BROKER FOR MORTGAGE ADVICE IF YOU PROCEED WITH AN APPLICATION, OF UP TO 1% OF THE LOAN AMOUNT. THE BROKER WILL PROVIDE YOU WITH DETAILS BEFORE YOU ARE ASKED TO COMMIT.