Need to remortgage?
Need to remortgage? When you remortgage, you have the opportunity to release equity and improve your overall property finances. It’s a great way to get a better mortgage rate and ensure you’re set up correctly for the next few years. If your current mortgage is expiring or you need to raise additional funds for home improvements or debt consolidation, remortgaging now could be the solution you’re looking for.
Check out our brief Remortgage intro video👇🏾
Current rates available starting from
2 year fixed*: 5.53%
3 year fixed*: 5.44%
5 year fixed*: 5.13%
2 year tracker*: 5.39%
* (Source: September 2023 Twenty7tec) These are example residential mortgage rates.
These are just some of the exclusive rates your mortgage broker will be able to access, of course, it is dependent on your circumstance which rates will be available to you, and your mortgage broker can help you understand your options.
In the UK on average, nearly 40,000 people remortgage every month. This is split almost 50/50 on those simply remortgaging to get better terms on their current mortgage deal that has expired and those looking to raise extra funds for things like home improvements and debt consolidation.
Once your mortgage rate ends you need to get a new mortgage otherwise you will revert to your lender’s standard variable rate (SVR) and that is usually many times higher than the rate you were paying, which means your payments could rise dramatically.
So you now need to remortgage your property finances and potentially you will be able to secure better terms if your loan to value has decreased or keep your payments similar to the level they were on the previous rate if that is available to you.
A mortgage broker can help you by researching all the lenders (there are over 80) and find the most suitable terms for you depending on your circumstance and requirements.
How much can you borrow-check it out here (➡️ How much can I borrow)
When you remortgage it is a chance to refresh your mortgage and overall property finances and make sure you’re set up correctly for the next several years.
Read on if you’re looking to raise additional funds for things like home improvements and/or debt consolidation ➡️ additional borrowing
REMORTGAGING IS LIKELY TO FALL INTO 2 SCENARIOS:
Firstly you may just want a new rate and no other changes, other than a reduction of costs.
Or this is now the time where you wish to make some changes to your mortgage. This could be for a variety of reasons and some are listed below:
- 🛀🏻 Borrow extra funds to complete home improvements
- 💳 Debt consolidation
- ⚖️ Adding or taking away someone from the current mortgage
- 🏘 Raising funds to buy another property
- 🪜 Looking to raise funds to gift to a dependant to help them get on the ladder
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Why choose us
✅ Over 80 lenders, many exclusive to brokers, means you get the best rates.
✅Trust our experienced advisors to assist you, whatever your circumstances.
✅ Real relationships with the lenders so we can get your application pre-approved if your situation isn’t straightforward
✅ We’re quick! On our first call we will quickly establish your options and let you know the next steps so we can arrange everything promptly for you