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Monday 15 June 2020
Monday 15 June 2020
Monday 15 June 2020
Monday 15 June 2020
Releasing funds from your mortgage can be a practical way to finance major expenses such as purchasing a car or making home improvements. However, like all financial decisions, remortgaging requires careful consideration to ensure you are making the best choice for your circumstances. At Barrett Mortgages, we offer expert advice to guide you through the remortgaging process and help you secure the best deal.
Benefits of Remortgaging
Access to Funds
Remortgaging allows you to release equity built up in your home, providing funds for various purposes such as renovations, debt consolidation, or other significant expenses.
Better Rates
Lenders often entice new customers with attractive introductory rates, which can lead to lower monthly payments for a fixed period, typically between 2 to 5 years in the UK.
Lower Monthly Payments
If your financial situation has improved or if your home’s value has increased, you may be able to secure a lower interest rate, reducing your monthly mortgage payments.
Why Choose Barrett Mortgages?
Comprehensive Market Comparison
Our experienced advisors compare products from a wide range of lenders to ensure you secure the best remortgage product that suits your needs and financial goals.
Tailored Support
We guide you through the entire process, from assessing how much you can remortgage to completing all necessary paperwork.
Equity Assessment
If you’ve been paying off your mortgage for several years, you may have built significant equity or benefited from rising property values. This could mean your new mortgage is a smaller percentage of your home’s value, improving your chances of securing better terms.
Things to Consider When Remortgaging
Introductory Rates
Many lenders offer competitive rates to attract new customers, but these rates are usually time-limited. Understanding the terms and conditions is crucial to avoid unexpected costs when the introductory period ends.Loan-to-Value Ratio (LTV)
The LTV ratio impacts the interest rate you qualify for. Higher equity can lower your LTV, making you eligible for more competitive rates.Switching Costs
Consider any fees or penalties for leaving your current lender, as these can offset the benefits of switching to a new deal.Financial Stability
Ensure your new mortgage aligns with your current and future financial goals.
Contact Us Today!
If you're considering remortgaging or releasing funds from your mortgage, our expert advisors at Barrett Mortgages are here to help. We’ll navigate the complexities of the remortgaging process and ensure you secure the best possible deal tailored to your needs.
📞 Call us: 01202 733809
📧 Email us: enquiries@barrettmortgages.com
Take the first step today and let us assist you in achieving your financial goals!
Releasing funds from your mortgage can be a practical way to finance major expenses such as purchasing a car or making home improvements. However, like all financial decisions, remortgaging requires careful consideration to ensure you are making the best choice for your circumstances. At Barrett Mortgages, we offer expert advice to guide you through the remortgaging process and help you secure the best deal.
Benefits of Remortgaging
Access to Funds
Remortgaging allows you to release equity built up in your home, providing funds for various purposes such as renovations, debt consolidation, or other significant expenses.
Better Rates
Lenders often entice new customers with attractive introductory rates, which can lead to lower monthly payments for a fixed period, typically between 2 to 5 years in the UK.
Lower Monthly Payments
If your financial situation has improved or if your home’s value has increased, you may be able to secure a lower interest rate, reducing your monthly mortgage payments.
Why Choose Barrett Mortgages?
Comprehensive Market Comparison
Our experienced advisors compare products from a wide range of lenders to ensure you secure the best remortgage product that suits your needs and financial goals.
Tailored Support
We guide you through the entire process, from assessing how much you can remortgage to completing all necessary paperwork.
Equity Assessment
If you’ve been paying off your mortgage for several years, you may have built significant equity or benefited from rising property values. This could mean your new mortgage is a smaller percentage of your home’s value, improving your chances of securing better terms.
Things to Consider When Remortgaging
Introductory Rates
Many lenders offer competitive rates to attract new customers, but these rates are usually time-limited. Understanding the terms and conditions is crucial to avoid unexpected costs when the introductory period ends.Loan-to-Value Ratio (LTV)
The LTV ratio impacts the interest rate you qualify for. Higher equity can lower your LTV, making you eligible for more competitive rates.Switching Costs
Consider any fees or penalties for leaving your current lender, as these can offset the benefits of switching to a new deal.Financial Stability
Ensure your new mortgage aligns with your current and future financial goals.
Contact Us Today!
If you're considering remortgaging or releasing funds from your mortgage, our expert advisors at Barrett Mortgages are here to help. We’ll navigate the complexities of the remortgaging process and ensure you secure the best possible deal tailored to your needs.
📞 Call us: 01202 733809
📧 Email us: enquiries@barrettmortgages.com
Take the first step today and let us assist you in achieving your financial goals!
