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Wednesday 16 December 2020
Wednesday 16 December 2020
Wednesday 16 December 2020
Wednesday 16 December 2020
If you’re considering remortgaging your home, our expert advisors are here to help. We’ll explore a range of lenders across the market to compare products and ensure you secure the best remortgage deal tailored to your unique circumstances. From enquiry to completion, we’ll guide you through the process, liaising with solicitors, surveyors, and any other third parties to ensure a seamless, hassle-free transaction.
Why Remortgaging Could Benefit You
According to a survey conducted by Ipsos MORI for Panorama, 31% of people renting or with mortgages report that payments consume more than a third of their total household income. Even if your mortgage payments fall below this threshold, they likely represent a significant portion of your budget. Securing a better mortgage deal could provide substantial savings and boost your financial well-being.
Mortgage lenders, keen to attract new customers, often offer competitive introductory rates that typically last between two to five years in the UK. Once the introductory period ends, borrowers are moved to the lender’s Standard Variable Rate (SVR). At this stage, you have three main options:
Stay on the SVR – This can sometimes be suitable, depending on your financial situation.
Remortgage with your existing lender – A convenient option that may still provide savings.
Remortgage with a new lender – Offers the potential for better rates and terms.
Costs Involved in Remortgaging
While remortgaging has the potential to yield significant savings, it’s important to factor in the associated costs. As you are essentially securing a new mortgage, the following fees may apply:
Property valuation fees – Your home will need to be revalued.
Legal fees – Processing the required legal paperwork involves solicitor charges.
Exit fees – Some lenders charge an exit fee to close your current mortgage.
The golden rule is to add up all the costs involved and compare them to the potential savings. This will help you determine if remortgaging is financially beneficial.
How We Can Help
Navigating the complexities of remortgaging can be daunting, but we’re here to make the process simple. From evaluating your options to calculating costs and savings, our advisors will provide personalised support to ensure you make an informed decision.
If you’re ready to explore your remortgaging options or want to learn more, contact us today. Let us help you secure the best deal for your future!
If you’re considering remortgaging your home, our expert advisors are here to help. We’ll explore a range of lenders across the market to compare products and ensure you secure the best remortgage deal tailored to your unique circumstances. From enquiry to completion, we’ll guide you through the process, liaising with solicitors, surveyors, and any other third parties to ensure a seamless, hassle-free transaction.
Why Remortgaging Could Benefit You
According to a survey conducted by Ipsos MORI for Panorama, 31% of people renting or with mortgages report that payments consume more than a third of their total household income. Even if your mortgage payments fall below this threshold, they likely represent a significant portion of your budget. Securing a better mortgage deal could provide substantial savings and boost your financial well-being.
Mortgage lenders, keen to attract new customers, often offer competitive introductory rates that typically last between two to five years in the UK. Once the introductory period ends, borrowers are moved to the lender’s Standard Variable Rate (SVR). At this stage, you have three main options:
Stay on the SVR – This can sometimes be suitable, depending on your financial situation.
Remortgage with your existing lender – A convenient option that may still provide savings.
Remortgage with a new lender – Offers the potential for better rates and terms.
Costs Involved in Remortgaging
While remortgaging has the potential to yield significant savings, it’s important to factor in the associated costs. As you are essentially securing a new mortgage, the following fees may apply:
Property valuation fees – Your home will need to be revalued.
Legal fees – Processing the required legal paperwork involves solicitor charges.
Exit fees – Some lenders charge an exit fee to close your current mortgage.
The golden rule is to add up all the costs involved and compare them to the potential savings. This will help you determine if remortgaging is financially beneficial.
How We Can Help
Navigating the complexities of remortgaging can be daunting, but we’re here to make the process simple. From evaluating your options to calculating costs and savings, our advisors will provide personalised support to ensure you make an informed decision.
If you’re ready to explore your remortgaging options or want to learn more, contact us today. Let us help you secure the best deal for your future!
