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Current mortgage deal ending soon?Remortgaging might be for you...

If your current mortgage deal is coming to an end, or you wish to access the equity in your property to be able to complete home improvements, consolidate debts or simply raise capital then we can help.

Re-mortgaging is when you move your mortgage from one lender to another to get a better deal and ultimately save money. For most of our clients, their mortgage is their biggest financial commitment so if money can be saved in this area it will benefit them.

remortgaging

Release equity from your property.

Once your introductory mortgage offer has ended, you will be moved over to the lender’s Standard Variable Rate (SVR) which is unlikely to be the cheapest option. This is when re-mortgaging should be considered.

Some clients consider re-mortgaging their house in order to access the equity in their property. What does this mean? For example, if you owe £135,000 and the house is now valued at £180,000, you have £45,000 equity. If you are applying for a re-mortgage to replace the £135,000 loan, the £45,000 equity is equivalent to a 33% deposit for someone buying a property.

 

RFS blog - vision properties Weybridge

When organising a re-mortgage for our clients, we always ask three important questions:

  • Will you have to pay an early repayment charge?
  • Will you have to pay an exit fee?
  • How much do you owe the current lender?

Once we have the answers to the above questions, then we can review all the options available to you including how your current lender can assist while comparing the options available from other lenders.

Re-mortgaging for the self-employed or contractors is not easy, you will need strong proof of your income, however it can be done and really depends on your personal situation.

remortgaging meeting

If you would like to re-mortgage then please do get in touch with us and we can advise the best option for your circumstances.

Think carefully before securing other debts onto your mortgage. Your home maybe repossessed if you do not keep up repayment on your mortgage.

Our step-by-step guide to remortgaging is available for you to download for free

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