So here is the easy bit
In order to get the best quote possible for your remortgage, you simply just need to click the calculator button to start the ball rolling. The calculator will ask a few questions about your property and then you will get a quote, on screen straight away.
Remortgage a house
Are you considering speaking to a remortgage solicitor about a new deal? Remortgaging is a necessity for all homeowners once their current rate has expired. A mortgage can last numerous years and it is vital to reflect on your monetary options carefully. The choices you make when remortgaging are just as significant as when you decided on the original mortgage deal. Remortgaging is frequently done due to a set period coming to a finish or because switching mortgages can decrease your monthly payments.
Don’t get lost in a stack of files on a desk, get someone working quickly for you that has the ability to speak with the vast majority of mortgage lenders. Speed and cost is key here, we have you covered.
Why should you remortgage?
One of the biggest reasons why lots of homeowners remortgage is due to the amount of money that they could be saving. If you have repaid a fair amount of equity on your home, swapping to a different mortgage can decrease the interest you’ll pay each and every single month since you’re able to take advantage of the most competitive deals about.
There are a number of reasons why people remortgage:
Release equity then you can pay for any major expenses, like a household enhancement project
1. To change to a more flexible mortgage that fits your situation better
2. To fix your repayments for a set period of time
3. Consolidate your outstanding payments
How long will it take to remortgage?
Remortgaging to a new lender can take up to two months. if you are intending to stay with the same mortgage provider just transferring to another one of their plans then it could only be a month. It’s advisable that you should start the comparison of a research process at least three months before your current deal expires. This will enable you to weigh up your options and calculate all of the different costs.
Would I be able to extend my current mortgage?
In most circumstances it is a great chance to shop around for the top provider, if you are locked into a specific agreement there are still opportunities. You can opt to talk to your creditor about remortgaging your present lending over a lengthier term this will make your monthly payments lower-priced but what you must consider is that the mortgage will be more expensive over its lifetime.
If you are looking to access the equity in your home but you don’t want to move from your current lender because you have a really good rate, you might be able to extend the mortgage with your current lender to organise a longer loan as part of the remortgage.
When is it a good time to fix a mortgage rate?
The bank rate and other factors in the mortgage market are likely to influence your lenders standard variable. Throughout decent financial times, the bank rate generally stays higher than normal and in bad financial times, the bank rate is typically low to encourage more lending and expenditure. If you think that the bank rate is about to go on the rise, then that would be a good time to move to a secure rate mortgage contract.
Should I remortgage with my current bank or swap?
Remortgaging with your current bank is often a lot easier as there is normally a lot less paperwork to complete, the process is normally much quicker and can sometimes be done in under a month. Your current bank may also reduce some of their remortgage charges. But, swapping to a new lender can propose better deals, banks are continuously challenging with one another for new clients. They want your business especially when it comes to mortgages, so it is important to look elsewhere even if your current provider has a great offer on. Your mortgage provider’s competitors will often give you a better interest rate to draw you away from them. Using a remortgage solicitor means that you can cut through this and they provide the expert advice and extra leg work that will be needed, however approaching the provider direct is still a good option as they may be able to offer you a better deal. Whatever you decide and the offers you can get at the time remember to always compare all the deals available and try to use it to your advantage to get a better deal.
For more information and some guidance about remortgaging, legal property service and broker conveyancing please contact one of our specialists on 01536 238660.
Got a question?
Feel free to drop us a line if you have a query, we’d be happy to help.