Remortgages

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We all would like to have the re-assurance that we have the best mortgage terms available or that if we would like to raise funds/release some of the equity in our homes it is the most cost effective method. So what do you need to know before you seriously consider remortgaging?



Where to start?


The first step is to contact us and we can advise you on the best remortgaging options.


We will offer a free review of your current mortgage to check the terms and conditions of your existing mortgage. We will inform you if you are tied-in to your mortgage deal or if there are any early repayment charges. You can then decide if it is worth switching to a different rate or stay put until the penalties have expired.



Which deal to choose?


There are broadly four types of deal on offer that we can talk you through in more detail and find out which option suits you best.


• Fixed rate schemes - ideal for people who want certainty of their payments and would like to know how much they will be spending each month.
• Discounted loans - offer a reduction off the lenders standard variable rate for a set period. If rates fall, the rate you will pay will go down but if rates rise, so do your payments. The lender can amend the SVR at any time.
• Tracker Mortgages- your mortgage has a direct relationship with the bank of England rate. Similar to the discount rates you mortgage interest in variable however all rate do change when the BofE rate increases/decreases.
• A capped-rate loan - sets a limit on the rate you will pay. If rates rise, your payments will not go above that level but if rates fall below the cap so will your repayments.
• Flexible mortgages - allow you to overpay and underpay when you choose, without penalty. This is ideal for people who have fluctuating incomes or who want to clear their mortgage early


How do I apply?


We will of course guide you through the whole remortgaging process, which will include:


• An early repayment statement will be needed from your existing lender telling you how much you owe.
• Your new lender values your home.
• Liaison with the lender to obtain the mortgage offer.
• Liaison with your legal representative through to completion of the loan.


How long does it take?


The whole process should take about a month to complete.


Once you have received a completion statement from your solicitor or new lender, the process has finished and your new mortgage is in place.



What can we offer you?


As we have access to thousands of mortgages including exclusive deals with a huge range of lenders, we can offer a wide range of remortgage offers with some special features:


• The ability to raise extra monies to clear credit cards and loans.
• Transfer of equity products.
• Fees free products available.
• Capital raising for most purposes including business start ups.

So if you want a better mortgage deal, want to check your existing terms or would like to release some of the equity in your home, talk to us today.
Remortgages Northampton  CLICK HERE TO CONTACT US  Remortgages Northampton