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Remortgaging is a good way to escape high
variable or fixed interest rates and more and more UK homeowners
are moving their mortgages to save money. Even if you have
just come out of a special deal and are obliged to pay a penalty
if you change, do not be deterred, re-mortgaging often reduces
your monthly mortgage payment enough to still save you money
in the long run. As your professional advisor, we will work out if this is beneficial to you.
In recent years remortgaging has become a
much simpler and more common process. More and more lenders
are offering specialist remortgaging services - often with
free legal and arrangement fees.
As well as reducing your monthly payments,
you can also use remortgaging to release the equity that's
built-up in your property over time. If you have owned your
property for several years, it could be worth more than your
outstanding debt therefore taking out a larger mortgage could
release some extra cash. This could be spent on home improvements,
a new car or a luxury holiday if you like.
When you re-mortgage, you are essentially
replacing your existing mortgage with a new one, shifting
your debt from one lender to another. There are thousands
of mortgages available across the market and we will take
into account what different lenders are offering at present
and find the best deal for your new circumstances. |
