Re-mortgaging Advice
Arranging a new deal could save you money and give you more flexibility
Arranging a new deal could save you money and give you more flexibility
Find an adviserRe-mortgaging
Whether you want to stay put and turn your current home into your forever home or simply want a better deal, it’s important to get the next step right.
Re-mortgaging
Re-mortgaging could be ideal if you want to minimise your mortgage repayments or raise additional funds, but it can feel like a daunting process with so many options. Our advisers can help you navigate an extensive range of highly competitive products to find the right one for you.
Re-mortgaging
You may choose to re-mortgage if:
- your current deal is about to end – if this is the case, the provider will put you on its standard variable rate (SVR), which is likely to be higher than other deals;
- you want a better rate;
- your home’s value has increased;
- you want to pay your mortgage off quicker – some deals won’t let you overpay on your mortgage; or
- you want to borrow more money.
Whatever your reason for re-mortgaging, our advisers are here to help.
While you can re-mortgage at any time, it’s best to wait until:
- you approach the end of a fixed rate mortgage deal – you can find another deal up to six months before the SVR kicks in
- interest rates are lower than the rate you’re currently paying
- the value of your home has significantly increased; or
- the benefits outweigh the costs.
The amount you can borrow will depend on a combination of a number of factors
- Your income
- Your spending
- Your credit score - which is based on your credit history
- The value of your property
Each mortgage provider will have a limit on what they’ll lend you compared with the current value of your property.
The lower the loan-to-value (LTV) ratio, the better – you’re likely to have more options and get a cheaper deal on your mortgage. Our advisers will work with you to assess the options and find the right deal for you.