Remortgage
Why remortgage?
Answer: To pay less interest for the amount you are borrowing.
When a fixed rate mortgage deal comes to an end, the interest rate you pay on your mortgage will increase to the lenders standard variable rate. This rate is significantly higher than the fixed rate you were paying.
Six month rule
Our advice is to speak to start looking for a new mortgage deal up to six months prior to the end of your current deal. We can secure you a new mortgage at todays interest rates. If rates fall, we offer a RATE TRACK service that follows the mortgage market downwards, so you have the comfort of knowing you will complete on the lowest mortgage product available from the lender.
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You are one call away from remortgaging your property.
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020 8517 1141
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When remortgaging, you can also capital raise for almost any purpose.
Home improvements
By far the most popular reason for capital raising when remortgaging is to carry out works to your home. Whether the funds are for a loft conversion, an extension, new kitchen / bathroom or creating a dream garden to enjoy, providing you have enough equity in the property, you can raise the funds by borrowing against your home. Your advisor will discuss your options with you.
Debt consolidation
Have credit cards, loans or other commitments that you would like to pay off? Looking to increase the amount of money in your pocket every month?
Debt consolidation can help you do just that. You can borrow money against your property to pay off secured and unsecured finance subject to certain rules.
Please bear in mind, when consolidating unsecured debt like credit card debt to your mortgage, you will be securing it against your property AND you may also be paying more interest as the debt is secured over a longer period of time.
Your advisor will discuss this with you to ensure it is the best way of reducing your outgoings.
Funds to Purchase a buy-to-let
You can raise the funds required to either purchase a property or just the deposit to put down for a buy to let property.
Limited company buy to let has become a lot more popular over the last few years and we have many clients raising funds to put into a new Limited company so that they can purchase buy to let property in a potentially more tax efficient way.
Holiday
The holiday of a lifetime can be saved for, but as the years go by, some clients want to fast track that holiday and decide to borrow the money against their home, spreading the cost of the term of the mortgage.
You can borrow the funds for a holiday but be mindful interest payments will increase the cost of the holiday so please factor those in. Your advisor will go through this with you.
Weddings
Your own or a child’s weddings can be expensive. Borrowing a bit extra on your mortgage when remortgaging for this purpose isn’t uncommon and can help you tick all your boxes for your dream wedding day!
Gifts to family
The Bank of Family as its now called extends to parents and grandparents raising money on their own house to gift money to children and grandchildren. This could be for a wedding gift, a deposit for a house or an early inheritance as part of inheritance tax planning. If you don’t want to offer money as a gift, you can offer the money as a loan to children to purchase property which means you retain the right of repayment. Speak to our advisors for more information.
Holiday Home
Whether in the UK or abroad, a home from home is a present to yourself and great for all the family to use and spend time together. You can raise funds for a deposit to purchase a holiday or second home in the UK or raise all the funds to purchase a holiday home in cash when buying abroad.
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Remortgage can speed up you reach your financial goals.
You are one call away from remortgaging your property.
Talk to our team about how we help you get on the housing ladder.
Remember | Your home may be repossessed if you do not keep up repayments on your mortgage.
Not all Buy to Let Mortgages are regulated by The Financial Conduct Authority.