What is a remortgage?
To remortgage is to transfer one mortgage to another. This may be due to your desire for a new fixed rate term that will sustain lower payments (in comparison to the lender’s typical variable rate) or your want to borrow extra funds for purposes such as home renovations or the consolidation of existing unsecured debts.
Reasons to remortgage:
Raise extra money to…
- Consolidate date:
To simplify your budget overall, release money from your property to pay down (or pay off) debt. Your monthly expenses could be reduced as a result, which would ease management of your finance.
Although mortgage interest rates are often lower than those on unsecured debt (such as credit cards and personal loans), keep in mind that you may end up paying more total for any outstanding debt.
Whether it’s through remortgaging or a homeowner loan, our qualified consultants can help you decide how to generate additional funds in the most effective way.
- Complete home improvements
Remortgaging to free up cash for house renovations may increase the value of your home. Remortgaging can release the finances you require, whether it’s for a loft conversion, new kitchen, bathroom or landscape garden.
Save money on a better rate:
You’ll be put on the lender’s normal variable rate, which is typically higher than the previous rate, when your current arrangement expires. You can get a considerably better interest rate by remortgaging.
You could now qualify for a cheaper rate:
Your loan-to-value ratio will have decreased if you’ve accrued enough equity in your house (that is, if the value of your home has increased or if you’ve paid off a sizable portion of your mortgage). As a result, you might now be eligible for a lower interest rate.
What is a remortgage?
To remortgage is to transfer one mortgage to another. This may be due to your desire for a new fixed rate term that will sustain lower payments (in comparison to the lender’s typical variable rate) or your want to borrow extra funds for purposes such as home renovations or the consolidation of existing unsecured debts.
Reasons to remortgage:
Raise extra money to…
- Consolidate date:
To simplify your budget overall, release money from your property to pay down (or pay off) debt. Your monthly expenses could be reduced as a result, which would ease management of your finance.
Although mortgage interest rates are often lower than those on unsecured debt (such as credit cards and personal loans), keep in mind that you may end up paying more total for any outstanding debt.
Whether it’s through remortgaging or a homeowner loan, our qualified consultants can help you decide how to generate additional funds in the most effective way.
- Complete home improvements
Remortgaging to free up cash for house renovations may increase the value of your home. Remortgaging can release the finances you require, whether it’s for a loft conversion, new kitchen, bathroom or landscape garden.
Save money on a better rate:
You’ll be put on the lender’s normal variable rate, which is typically higher than the previous rate, when your current arrangement expires. You can get a considerably better interest rate by remortgaging.
You could now qualify for a cheaper rate:
Your loan-to-value ratio will have decreased if you’ve accrued enough equity in your house (that is, if the value of your home has increased or if you’ve paid off a sizable portion of your mortgage). As a result, you might now be eligible for a lower interest rate.
