Remortgages
Helping you find the best mortgage for your circumstances
What is a Remortgage?
A remortgage refers to the process of replacing your current mortgage with a new one. This could involve switching to a new lender or renegotiating the terms with your existing lender. The primary reasons homeowners choose to remortgage include obtaining a better interest rate, reducing monthly payments, accessing additional funds, or consolidating debts.
Key Considerations When Remortgaging:
Current Mortgage Evaluation:
a. Assess Your Current Deal: Review the terms and conditions of your existing mortgage, including interest rate, repayment type, and remaining term.
b. Early Repayment Charges (ERCs): Determine if there are any penalties associated with exiting your current mortgage early. Consider the financial implications of these charges when deciding whether to remortgage.
Objectives and Goals:
a. Identifying Your Financial Objectives: Determine the reasons for remortgaging, such as reducing monthly payments, accessing equity for home improvements, or paying off debts.
b. Long-Term Financial Planning: Consider your future plans and financial goals to ensure the remortgage aligns with your broader objectives.
Market Research and Comparison:
a. Interest Rates: Research current mortgage rates to compare them with your existing rate. Look for potential savings and consider the overall cost of the remortgage, including fees.
b. Lender Options: Explore different lenders and mortgage products available in the market to find the one that best suits your needs and offers competitive terms.
Costs and Fees:
a. Arrangement Fees: Consider any arrangement fees associated with the new mortgage. Compare these fees against potential savings to ensure they are justifiable.
b. Valuation Fees: Account for the cost of a property valuation, which lenders typically require to assess the property’s worth.
c. Legal Fees: Factor in the costs of solicitors or conveyancers involved in the remortgage process.
Seek Professional Advice:
a. Mortgage Brokers: Engage a mortgage broker who specialises in remortgaging to navigate the market and identify the best deals for your specific needs.
b. Mortgage Financial Advisors: Consult a mortgage advisor for an overall assessment of your financial situation and to receive personalised advice on remortgaging.
Our lenders
Why Choose Us?
Capital Assure is an appointed representative of PRIMIS Mortgage Network. As a mortgage broker, we work for you and not the lender.
- Free mortgage advice with the UK’s most comprehensive panel of UK mortgage lenders
- Bad credit, self-employed, visa status, government help schemes, commercial, bridging and specialist finance.
- If you are looking for a loan, equity release or any kind of protection plans, then we have a referral network designed to assist you with the best possible advice
- Just need advice? We are advisors so there is no obligation to use our services, you can just give us a call for a chat without any hard sell.
