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What Are Your Options
Remortgaging is an option that homeowners have and they may not be aware they have..
Remortgaging is the process of changing your current mortgage either by changing to a new lender or using a different deal from your current lender.
How Can I Find the Best Remortgage Deal?
Finding the best Remortgage deal will mean shopping around and talking to different lenders to compile a list of all the different incentives and plans available. Comparing these details will help you find the best deal.
Using our Mortgage Brokers can help you shorten this process. They are familiar with the market and the process, they can guide you and help negotiate for the best deal on your behalf. We also know all the criteria and can carry out affordability checks to ensure you qualify.
You should not be afraid to start the process early. You can likely secure a deal up to six months in advance. You don’t have to wait until your current contract is up, and applying early can make for a smoother transfer.
Why Should I Remortgage?
There are several benefits that might make a Remortgage a good option for you. If interest rates dropped since you purchased your home, a Remortgage can lower your interest rate.
A Remortgage can help you save you money and help you pay off your mortgage sooner. If you are able to lower your monthly payment with a Remortgage, you can continue to pay the old amount and shorten the length of your mortgage.
Some Remortgage options do not have added fees, so there are incentives you can gain. You may be able to have a free valuation and legal package or you could even get some cash back after completing it.
You may be able to free up some money by completing a Remortgage. If there is enough equity in your home and your mortgage is affordable, then you can raise money through Remortgaging.
As a client of Mint Mortgage & Protection, you don’t need to worry about you mortgage deal ending soon, as we will contact you 4-6 months before your deal is due to end to review & source your new deal, as part of our ongoing service.
Getting Ready to Remortgage
If a Remortgage is a good option for you, then you need to take steps to ensure that you can get the best Remortgaging deal. Before you start applying, take the time to get to know how to improve your chances of getting the best deal possible.
You should not be afraid to start the process early. You can likely secure a deal three months in advance, and sometimes more than that. You don’t have to wait until your current contract is up, and applying early can make for a smoother transfer.
You also need to check your credit score and get your finances in order before applying. If your finances are stable and in good shape, then you will be more attractive to lenders. You should also shop around to be sure you find the best deal.
What Remortgage Should You Choose?
The Remortgage deal you choose will depend entirely on your current situation and your goals for the future. You will want to determine what your current interest rate is, your current monthly payment, and the length left on your mortgage.
Once you have examined your current mortgage, determining the best Remortgage deal is easier. You may place greater importance on paying off your debt sooner, or it may be lowering your monthly payment. Comparing the benefits of different Remortgage details will help you choose the best deal for your situation.
Remortgaging will sometimes come with fees that you will need to understand before moving forward. You may have to pay an early repayment fee for leaving your current deal. There may also be surveying or broker fees depending on what is included in your deal.
Our advisers will consider all the costs and compare what is best for you.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
The Financial Conduct Authority does not regulate most Buy to Let Mortgages
We may charge a fee of up to £395 for mortgage advisory services and administration