Remortgage

Remortgaging means switching your current mortgage to obtain fresh mortgage .You jump from one mortgage lender to another one simply because this new mortgage lender provides you with a much better offer to generate some cash or to pay a reduced interest charge. In case your existing mortgage is on the mortgage lender Standard Variable Rate, you would discover that you could save yourself 100s – maybe even 1000’s – of extra pounds by moving over to a much better deal with a different provider? As with most financial selections, doing your research can bring in significant gains, and switching a mortgage among mortgage providers – referred to as ‘remortgaging’ – needn’t be time-consuming or nerve-racking.
At AFC, our qualified mortgage advisors can try to look for whole of the mortgage market place to obtain a remortgage offers that suits your requirements. Remortgaging may be used for
Debt Consolidation – Remortgage provides you with with an ability to combine your current financial obligations into one thus you’ll be liable only to one lender who’ll be this new lender.
Home Improvement – You’re able to free up your home equity by remortgaging. It’s a good idea to remortgage simply because the interest rates provided by the new loan provider are usually low in comparison with many unsecured personal loan and credit card interest rates.
Save Money – Remortgaging could save you that extra cash you’re paying to your former lender with respect to greater interest rate.
By remortgaging you could lend from £25,000 up to £500,000, based on the price of your personal property.
Remortgaging can help you to obtain a larger loan at reduced interest rates that can help you clear up financial debt and save on interests. Remortgaging offers an possibility to move from the existing inflexible mortgage plan to a convenient and more desirable proposal.
Top helpful hints on remortgaging
Speak with your current mortgage lender to find out how much they can offer you, and what (if any) fees or charges would be applicable if you were likely to move your mortgage somewhere else. They might try to hold your account by giving you a offer from their range of interest rates offered to pre-existing borrowers, but keep in your mind that these will not usually be as reasonably competitive as the remortgage offers you may get from different loan providers.
Keep in mind of all of the costs associated in remortgaging – most likely these will can include some kind of settlement fee in the current loan provider,as well as an set up fees on the new mortgage. Having said that, you should definitely keep in mind that these must be well balanced with the total cost savings you will get on your regular monthly repayments.
Deciding to remortgage can be a good moment to evaluate the rest of your financial circumstances. A top up financial loan or further advance for the fresh mortgage (at the new price) can help you combine debts, pay money for a new car, a wedding ceremony or home developments.

*”Your home may be repossessed if your do not keep up repayments on your mortgage & We may charge a fee of up to 1% of the advance (payable at completion). This will depend on your personal circumstances, a typical fee would be 0.5% of the advance, for example a loan of £100,000 will extract a fee of £500.00 from which a fee of £250.00 (non refundable) will be payable upon completion of your mortgage application (After DIP) and rest on completion of your mortgage

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* Advance Financial Consultants Ltd is an appointed representative with Julian Harris Mortgages Ltd which is authorised and regulated by the Financial Conduct Authority (FCA), Registered in England & Wales 06869802. Data Protection No. Z1792988 Regulated by the Claim Management Regulator in respect of regulated claims management activities.

     "The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details of the FOS can be found on its website at www.financial-ombudsman.org.uk "

      Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it.

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