Sticking with your current lender after your initial deal comes to an end may seem attractive if their SVR (Standard Variable Rate) is reasonable, but if you are willing to take a little time to look for a better rate, remortgaging could save you a significant amount.
Fortunately, we make the process of finding the most suitable remortgaging deals simple. We search for the most attractive rates among lenders across the UK. Not only do we find the lowest interest rates, but we also take into account the flexibility of each lender scheme being offered.
Please be aware that you may have to pay an early repayment charge to your exsisting lender if you remortgage.
Our Best Remortgage Advice
Provided that you have built up a reasonable equity in your property over the course of your initial deal (many lenders will insist upon you having a minimum 20% equity before offering the best deals) looking around for an alternative to sticking with your current provider is always worthwhile.
Some of the lowest deals are dependent on you having more than the minimum equity on offer. However, often the strength of some lender schemes is their inherent flexibility that allows you to make underpayments when money is a little tight and overpayments when you have enough of a cash surplus.
There are many types of people in the UK who can benefit from such flexibility. For example, couples who are starting a family may want the security of knowing they can underpay on their mortgage in the face of new monthly expenditure. In addition, older people may want to be able to pay off their loan quicker in order to make their retirement debt-free.
Whatever your situation, we can offer the most suitable remortgage advice that fits your finances and your future ambitions.
The term ‘best’ is very restricted within the current regulated market place we operate in. For clarity we access our mortgage deals from a panel of lenders which is representative of the whole market.
Provided you have built up enough equity in your property, you can choose to remortgage to release funds. This could be for home improvements, a divorce settlement or debt consolidation. The interest rate on a mortgage is often lower than that of a loan or credit card, and so it is advantageous to consolidate the debt into one monthly payment on a lower rate. Lenders often have rules limiting how much can be borrowed for different purposes. It is important to seek advice before looking to capital raise.
When Your Mortgage Deal Ends
Once Warren & Co have arranged your mortgage for you, we keep track of when your mortgage deal expires so that you don’t have to. We will get in touch several months before you are due to go onto the lenders standard variable rate to check your circumstances and look at your options. We can then look to find you a new mortgage rate that suits your lifestyle.