Nearing the end of your current mortgage deal? Find out about your remortgage options and see how much we could save you on your mortgage payments. More and more UK homeowners are remortgaging to save money on their monthly repayments, so why not spend 5 minutes to get some remortgage quotes and see how much you could save?
A remortgage is simply switching lender or finding a better deal with your existing lender which could significantly cut your monthly outgoings. Taking out a new mortgage against your property could enable you to use the money to pay off the previous existing mortgage (fundamentally transferring it) to your new lender. As with all mortgages, there are a large number of deals on the market, carrying their own pros and cons. As a reputable remortgage broker, our job is to cut through the noise and find you the exact product that best fits your individual situation.
Remortgaging can reduce your current mortgage by utilising lower mortgage rates and better mortgage deals. It also allows you to reduce your monthly payments and just have one controllable payment. Remortgaging effectively frees up finance which can be used to pay off debts, renovate, or enable you to consider a buy to let property by providing the finance required. If your house has risen in value, remortgaging allows you to release the extra equity in your home. You will potentially pay more interest by consolidating if the loan is increased and the term is extended.
Despite the positive contributions of remortgaging, it isn’t for everyone. This all depends on your personal circumstances, timing and a question of money. Our advisors can help you decide whether switching deals will outweigh the cost. Here at Ascot Mortgages, our primary focus is always to find you the lowest remortgage rates that fit with your requirements. For example, you will be able to find a range of excellent 70% LTV remortgage deals here.
With many lenders’ Standard Variable Rates (SVRs) now at historic lows, more and more borrowers have elected to stay where they are rather than re-mortgage to an alternative lender with a more expensive rate. However, some lenders have already increased their SVRs, so they may not be as competitive as you think they are. Also, as the best fixed rates have fallen recently and with the economic outlook as uncertain as ever, it could be the right time to consider protecting your mortgage against future rises in interest rates.
Remortgaging can be quite an overwhelming choice and so by enlisting the help of a mortgage broker, we can use our expertise to find the right product and help you apply for a remortgage without the stress.
A common reason to remortgage is to raise funds to improve your current home. If you love your current home, but it needs some sort of renovation work, then additional borrowing on a mortgage can work out cheaper than taking out a home improvement loan.
We can help you remortgage to build an extension, carry out much needed repairs to your home, or to get work done such as renovating your kitchen or bathroom. If you need work carried out around the home, but can’t afford it, you may be considering moving to a more suitable property. However, if you remortgage your house, you can potentially raise the funds while staying in your current home, which is a lot less disruptive.
Raising extra capital can be an inexpensive way to borrow when compared to other options. At Ascot Mortgages, we often work with people who want to remortgage to buy another property or need to raise money for any other purpose. It can sometimes be an easier option than taking out another mortgage. Our remortgage advisors would be happy to find products that would best suit your circumstances.
Remortgaging can also be a way to clear outstanding debts. Debt consolidation allows you to take advantage of low interest rates to clear debts such as loans and credit cards. Lower interest rates mean you pay back less, saving you money in the short and long-term. You may be worried that lenders won’t be willing to lend to you, due to your debts or perhaps having bad credit, but the good news is, we can help you remortgage a property no matter what your circumstances.
If you’re currently wondering ‘should I remortgage my house to pay off debts?’ one of the concerns you may have is that the repayments will be higher. Ascot Mortgages can help you find a fixed rate deal, so you know exactly how much the repayments will be each month, and you can then compare that to the debt repayments you currently make.
Thinking of remortgaging your current home? Want to ensure you get the best deal? Make an appointment with a remortgage specialist at Ascot Mortgages. As a broker, we have access to the best deals, and can match you to a wide range of financial products to suit your circumstances. No matter what your reasons for remortgaging, contact the team at Ascot Mortgages today and we’ll be happy to discuss your needs.