Remortgage

Re-mortgaging is an option normally exercised by people looking to take on a new mortgage product for a number of reasons. Discussed below are the two common reasons why you might re-mortgage:

One of the main reasons why people re-mortgage is to get a new mortgage deal to reduce their interest rate. This is particularly true when the base rates are lower and more attractive offers are available to the borrower. For example if a borrower has a mortgage rate at 6.00% but new products have come available at lower rates, say 5.00%, the borrower would want to consider re-mortgaging to obtain the better interest rate as long as the terms of the new deal are suitable.

APPLY TO GET THE BEST MORTGAGE DEAL FROM WHOLE OF THE MARKET.

Another popular reason for people to re-mortgage is to re mortgage their property to release equity. If the property has positive equity then re mortgaging can be used to release the equity for use in a number of desired ways. This can be anything from funding your personal finances, paying off other debts, using the money for other personal benefit. Releasing equity in such a manner is usually a cheaper option then getting credit on say a credit card, or paying a higher interest rate on a personal loan,

The above are the major 2 reasons why people choose to remortgage their property and get a new buy to let mortgage. If you want to look at what options you have available on your current mortgage give us a call . We will be happy to have a chat with you to review your current mortgage and advise the most appropriate options available to you.

We will give you impartial advice and if we feel that it is financially not viable for you to re-mortgage then we will let you know. But if you just want to know about the various options and check if you can take any action that can be taken then feel free to call us

.CALL US FREE ON: 0161 8774142

 

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