Remortgage

A Remortgage is a process of moving  your mortgage on an existing property from your existing lender to a new lender. There is always a cost associated with a remortgage but on the other hand it also brings some benefits. So whenever you think of a remortgage, you should compare cost with benefits. We, as qualified professional advisers, can look at your whole scenario and help you in deciding what is in your best interest.

People remortgage for a variety of reasons, which include:

  * RAISE CAPITAL: People raise capital for many different reasons, e.g. to invest somewhere else to make profit, to add value to the property or to meet their needs.

  * REDUCE THE MORTGAGE PAYMENTS: When people reach at the end of a fixed rate period, their mortgage rate changes to the lender’s revert rate which is usually higher, at that time remortgage could be a better option to reduce monthly mortgage payments.

  * DEBT CONSOLIDATION: Sometimes people accumulate lots of debts (e.g. on credit cards etc) paying high interest rate. In this case a remortgage can be a better option for them. They can consolidate their debts in a mortgage and pay lower interest rate.

Note: Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage. By consolidating your debts into a mortgage, you may be required to pay more over the entire term than you would
with your existing debt.

*PRODUCT TRANSFER : A product transfer is switching your existing mortgage product to another mortgage product without changing lender i.e. you stay with the same lender but switch to a new product which could be cheaper than your existing mortgage product.   

If you are thinking of a remortgage, we can give you free impartial professional advice and assist you on a remortgage or product transfer, whatever suits your needs. Please contact us for reliable advice and recommendation services.

We do not charge an initial advice fee. We only charge an application fee when you are happy with the product and want to go ahead with the application, and charge a success fee/broker fee when your mortgage is approved. We can also liaise with your solicitor to facilitate your buying process.