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Tuesday 20 April 2021
Tuesday 20 April 2021
Tuesday 20 April 2021
Tuesday 20 April 2021
If you’re looking to remortgage your home and want to understand the process, Barrett Mortgages offers expert guidance to make it straightforward and stress-free. Our advisors work with a wide range of lenders across the market to find the best remortgage product tailored to your individual circumstances. From determining how much you can remortgage for to managing the entire process—including liaising with solicitors, surveyors, and other third parties—we ensure a smooth and hassle-free experience.
Why Consider Remortgaging?
A recent survey revealed that 31% of people who rent or have a mortgage spend more than a third of their total household income on payments. Remortgaging could provide significant financial relief by securing a better rate or releasing equity from your property.
Mortgage lenders often offer introductory rates to attract new customers. These rates typically last 2 to 5 years in the UK. Once this period ends, your mortgage reverts to the lender’s Standard Variable Rate (SVR), which is usually higher. At this point, you have three main options:
Stay on the SVR: Only advisable if remortgaging costs outweigh the potential savings.
Remortgage with your existing lender: May offer competitive rates with fewer fees and less paperwork.
Remortgage with a new lender: Often provides the best savings but involves additional steps and costs.
Costs Involved in Remortgaging
While remortgaging can lead to substantial savings, it’s essential to account for associated costs, such as:
Valuation Fees: Your home will need to be revalued as part of the process.
Legal Fees: There will be paperwork to finalise your new mortgage agreement.
Exit Fees: Your current lender may charge a fee for closing your existing mortgage early.
Early Repayment Charges: If you exit your mortgage before the agreed term, a penalty may apply.
It’s crucial to weigh these costs against the potential savings to determine whether remortgaging is the right choice for you.
Why Choose Barrett Mortgages?
Barrett Mortgages is a trusted finance broker based in Poole, Dorset, providing mortgage solutions for everyone. Founded by Darren Barrett in 2009 during challenging market conditions, we have built our business on trust, transparency, and exceptional customer service.
What Sets Us Apart?
Qualified and Experienced Advisors: Our team is highly skilled and dedicated to delivering the best possible outcomes for our clients.
No Pushy Sales Tactics: We focus on honest advice and personalised solutions.
Reputation Built on Referrals: Our success comes from the trust and recommendations of our satisfied clients.
In addition to remortgaging advice, we also offer:
First-Time Buyer Assistance: Guiding you through the process of purchasing your first home.
Buy-to-Let Mortgages: Helping you secure the best property investment opportunities.
Get in Touch
Looking to remortgage your home or explore other mortgage services? Contact Barrett Mortgages today for expert advice and personalised support.
Visit our website or give us a call to learn more about how we can help you save money and simplify the mortgage process. Let us take the stress out of remortgaging!
If you’re looking to remortgage your home and want to understand the process, Barrett Mortgages offers expert guidance to make it straightforward and stress-free. Our advisors work with a wide range of lenders across the market to find the best remortgage product tailored to your individual circumstances. From determining how much you can remortgage for to managing the entire process—including liaising with solicitors, surveyors, and other third parties—we ensure a smooth and hassle-free experience.
Why Consider Remortgaging?
A recent survey revealed that 31% of people who rent or have a mortgage spend more than a third of their total household income on payments. Remortgaging could provide significant financial relief by securing a better rate or releasing equity from your property.
Mortgage lenders often offer introductory rates to attract new customers. These rates typically last 2 to 5 years in the UK. Once this period ends, your mortgage reverts to the lender’s Standard Variable Rate (SVR), which is usually higher. At this point, you have three main options:
Stay on the SVR: Only advisable if remortgaging costs outweigh the potential savings.
Remortgage with your existing lender: May offer competitive rates with fewer fees and less paperwork.
Remortgage with a new lender: Often provides the best savings but involves additional steps and costs.
Costs Involved in Remortgaging
While remortgaging can lead to substantial savings, it’s essential to account for associated costs, such as:
Valuation Fees: Your home will need to be revalued as part of the process.
Legal Fees: There will be paperwork to finalise your new mortgage agreement.
Exit Fees: Your current lender may charge a fee for closing your existing mortgage early.
Early Repayment Charges: If you exit your mortgage before the agreed term, a penalty may apply.
It’s crucial to weigh these costs against the potential savings to determine whether remortgaging is the right choice for you.
Why Choose Barrett Mortgages?
Barrett Mortgages is a trusted finance broker based in Poole, Dorset, providing mortgage solutions for everyone. Founded by Darren Barrett in 2009 during challenging market conditions, we have built our business on trust, transparency, and exceptional customer service.
What Sets Us Apart?
Qualified and Experienced Advisors: Our team is highly skilled and dedicated to delivering the best possible outcomes for our clients.
No Pushy Sales Tactics: We focus on honest advice and personalised solutions.
Reputation Built on Referrals: Our success comes from the trust and recommendations of our satisfied clients.
In addition to remortgaging advice, we also offer:
First-Time Buyer Assistance: Guiding you through the process of purchasing your first home.
Buy-to-Let Mortgages: Helping you secure the best property investment opportunities.
Get in Touch
Looking to remortgage your home or explore other mortgage services? Contact Barrett Mortgages today for expert advice and personalised support.
Visit our website or give us a call to learn more about how we can help you save money and simplify the mortgage process. Let us take the stress out of remortgaging!
