Remortgage
Have you ever considered a remortgage? If you already own your own home and need extra equity, it maybe beneficial for you to take out a remortgage, instead of taking out a loan. The extra equity from a remortgage can be used for any purpose, such as consolidation to pay off existing debts, home improvements (adding value to your home), or a holiday.
We can put you in contact with some of the UK 's best remortgage suppliers, ensuring a remortgage tailored to your individual needs.
If you would like more information on remortgages, please call or apply online to speak to one of our trained remortgage advisors.
What is a remortgage?
This is simply the replacement of an existing mortgage with a new one. And is a good solution for those who may want to save money. A remortgage may allow the homeowner to repay other debts such as personal loans or credit cards, or it may be a way of paying for home improvements such as a conservatory a loft conversion.
This is when the terms of the original mortgage are renegotiated, and usually means that the borrower increases the amount that they are borrowing, which is often possible due to a rise in the value of the property.
A remortgage may allow the homeowner to repay other debts such as personal loans or credit cards, or it may be a way of paying for home improvements such as a conservatory a loft conversion.
Remortgaging may involve getting a better deal from your current lender, or it may mean changing lenders if a rival is offering a more competitive rate. The remortgage usually will involve a fresh survey of the property taking place, and an updated valuation of the property, which will take into account any changes in value due to home improvements, or due to fluctuations in the local or national property market.
