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Monday 8 March 2021
Monday 8 March 2021
Monday 8 March 2021
Monday 8 March 2021
Looking to remortgage your home and curious about how the process works? At Barrett Mortgages, we provide expert advice tailored to your unique circumstances. Our advisors compare products from a wide range of lenders to find the best remortgage solution for you. 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, hassle-free transaction.
Why Consider Remortgaging?
According to an Ipsos Mori survey, 31% of people who rent or have a mortgage spend more than a third of their household income on payments. Even if your payments are below this threshold, securing the best deal could significantly boost your finances.
Mortgage lenders attract new customers with introductory rates, which typically last between 2 to 5 years in the UK. After this period, your mortgage switches to the lender's Standard Variable Rate (SVR). At this stage, borrowers have three options:
Stay on the SVR: This is only practical if the costs of switching outweigh potential savings.
Remortgage with the current lender: Often the simplest option, with fewer fees and paperwork.
Remortgage with a new lender: Potentially offers the most savings but requires careful evaluation of associated costs.
Costs to Consider When Remortgaging
While remortgaging can lead to substantial savings, it’s essential to account for associated costs:
Property Valuation Fees: Your home will need to be revalued as part of the process.
Legal Fees: Similar to when you first bought your home, there will be legal paperwork to finalise the new mortgage.
Exit Fees: Your current lender may charge a fee for closing the mortgage early.
Early Repayment Charges: This fee compensates the lender for ending the mortgage before the agreed term.
It’s important to weigh these costs against the potential savings to decide if remortgaging is right for you.
Why Choose Barrett Mortgages?
Since our founding in 2009 by Darren Barrett, Barrett Mortgages has been committed to providing clear, trustworthy, and upfront services. We’ve thrived during challenging times by offering personalised, specialist help when clients need it most.
What Sets Us Apart?
Qualified Experts: Our staff are highly experienced and chosen for their dedication to excellent customer service.
No Pushy Sales Tactics: We focus on understanding your needs and offering honest advice.
Strong Reputation: Built on trust and client referrals, our reputation speaks for itself.
In addition to remortgaging advice, we also help first-time buyers, buy-to-let investors, and more.
Get in Touch
Ready to explore your remortgaging options? Contact Barrett Mortgages today for expert guidance.
Visit our website to discover the full range of services we offer and see how we can help you secure the best financial solutions for your future. Let us take the stress out of remortgaging!
Looking to remortgage your home and curious about how the process works? At Barrett Mortgages, we provide expert advice tailored to your unique circumstances. Our advisors compare products from a wide range of lenders to find the best remortgage solution for you. 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, hassle-free transaction.
Why Consider Remortgaging?
According to an Ipsos Mori survey, 31% of people who rent or have a mortgage spend more than a third of their household income on payments. Even if your payments are below this threshold, securing the best deal could significantly boost your finances.
Mortgage lenders attract new customers with introductory rates, which typically last between 2 to 5 years in the UK. After this period, your mortgage switches to the lender's Standard Variable Rate (SVR). At this stage, borrowers have three options:
Stay on the SVR: This is only practical if the costs of switching outweigh potential savings.
Remortgage with the current lender: Often the simplest option, with fewer fees and paperwork.
Remortgage with a new lender: Potentially offers the most savings but requires careful evaluation of associated costs.
Costs to Consider When Remortgaging
While remortgaging can lead to substantial savings, it’s essential to account for associated costs:
Property Valuation Fees: Your home will need to be revalued as part of the process.
Legal Fees: Similar to when you first bought your home, there will be legal paperwork to finalise the new mortgage.
Exit Fees: Your current lender may charge a fee for closing the mortgage early.
Early Repayment Charges: This fee compensates the lender for ending the mortgage before the agreed term.
It’s important to weigh these costs against the potential savings to decide if remortgaging is right for you.
Why Choose Barrett Mortgages?
Since our founding in 2009 by Darren Barrett, Barrett Mortgages has been committed to providing clear, trustworthy, and upfront services. We’ve thrived during challenging times by offering personalised, specialist help when clients need it most.
What Sets Us Apart?
Qualified Experts: Our staff are highly experienced and chosen for their dedication to excellent customer service.
No Pushy Sales Tactics: We focus on understanding your needs and offering honest advice.
Strong Reputation: Built on trust and client referrals, our reputation speaks for itself.
In addition to remortgaging advice, we also help first-time buyers, buy-to-let investors, and more.
Get in Touch
Ready to explore your remortgaging options? Contact Barrett Mortgages today for expert guidance.
Visit our website to discover the full range of services we offer and see how we can help you secure the best financial solutions for your future. Let us take the stress out of remortgaging!
