I can help with remortgaging your home or property.
Remortgages can be used for various reasons. Most people however simply switch mortgages because it will work out cheaper for them. For example, the introductory discounted interest rate may have finished with your current lender and you could potentially get a new discounted rate, or a lower APR, with another lender. Alternatively you may need to re-mortgage to consolidate debts.
It is worth noting that a remortgage is not the most suitable option in all cases. Even if the lender you are considering switching to is offering a lower interest rate, you must take into consideration other factors:
The new lender may charge you for valuation and solicitors' fees, even if you have already paid these for your mortgage with your current lender.
If you switch mortgage remember to look at the overall repayment period. You may be able to pay less monthly, but check the final repayment date of the mortgage as well.
You may have to pay an early repayment charge to your existing lender if you re-mortgage.
Think carefully before securing any other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage.
Also you may be able to switch your mortgage deal with your current lender, avoiding any unnecessary additional costs. However, consolidating debts to your mortgage will often mean more interest over a longer repayment term, and there may also be early repayment penalties on your current mortgage.
I will help you look at every option available and help you reach the right decision. By the way, there are other ways to manage debt such as free debt advice charities. You can find out more by contacting the Money Advice Service as these services may be more suitable for you.
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