Remortgages

Is your fixed mortgage ending soon?
Do you want to find the best deal available?
Has your property value increased?

There are many reasons why you might need to remortgage your home. Situations change, deals expire, and interest rates fluctuate.

By reviewing your plans, a remortgage could work out as a huge cost saving for you. But how do you decide what’s best?

Speak to our experienced team at The Mortgage Way. We offer free advice to help you find the best deal for you and your family.

What is a remortgage?

A remortgage is changing your current mortgage deal on your existing property. That’s whether you stay with the same lender or not. It does not include buying a new home.

What is a remortgage?

A remortgage is changing your current
mortgage deal on your existing property.
That’s whether you stay with the same
lender or not. It does not include
buying a new home.

Why would I remortgage?

There are different circumstances for needing to remortgage. It’s a
process that can give you and your family more flexibility as home situations change.

It could be that your current mortgage deal is due to expire soon, and you don’t want your interest rate to go up or you may want to cut your monthly payments by extending the period of your mortgage. There are many reasons, and we understand your circumstances are individual to you.

When you speak to our team, we can advise you whether now is a good time to remortgage based on your circumstances. We will explain what impact remortgaging will have on your overall repayment figure. It must be noted that extending your mortgage period will add more interest over the lifetime of the loan and, therefore, you will end up paying back more in total.

Our advisor service is free of charge*, and you can come back to us anytime you need financial advice.

Do any of the below examples reflect your current situation? If so, book an appointment with The Mortgage Way. We offer flexible appointment times for after working hours and always explain everything to you.

At The Mortgage Way, we always
have your best interests at heart

Expiring fixed mortgage deal

Most mortgages come with fixed-term deals. When this fixed-term ends you will go onto the standard variable interest rate. This may well be considerably higher than the amount you were paying within the fixed-year deal, so it’s in your best interest to review it.

When you remortgage, you can lock-in another competitive deal. For a homeowner who has no plans to move, longer fixed mortgage deals usually offer a better option.

If your fixed rate is due to expire in the next six months, speak to The Mortgage Way team. We recommend talking to us as early in the process as possible, to give both us and you enough time to find the best deal. Remember, you don’t pay a penny to us for our service*.

Debt consolidation

Sometimes the credit card balances can get a little out of hand, there’s that loan you’ve had for a while, and you’re in your overdraft every month. If debt is weighing down on you then remortgaging and borrowing enough additional money to clear the debts off in full can provide you with relief from your financial worries.

It must be pointed out though that if your mortgage is taken over a long period, this is an expensive way to clear your debt. But many people find it makes the monthly payments much more manageable and so prefer it to taking out a large personal loan in addition to their mortgage.

Our team will advise you of all your options free of charge*. Let’s get your financial stress removed.

Changing interest rates

With the economic climate changing so often, remortgages can sometimes be spurred on by interest rate predictions. If predictions are that interest rates will rise, it could be worth a discussion about a remortgage.

All our clients get mortgage advice free of charge*. Give us a call and we can advise you on the best option for your situation.

Increased home value

Have you recently seen a spike in nearby house prices? Did you recently renovate parts of your home and increase the value?

A remortgage could be valuable in either of these cases. When your home value rises, you can get a lower loan to value (LTV) ratio. A lower LTV allows for better mortgage deals from most lenders. You may also, should it be beneficial to you,

Home improvements

If you are looking to extend, renovate, remodel, or just upgrade areas of your home remortgaging might be the way forward. You can increase the amount of your current loan and fix some great deals.

We provide all our clients free advice* to get you the best deal on the market.

How much does it cost to
remortgage?

The cost of remortgages depends on the reason, your remaining mortgage balance, and the current deal you’re on.

If you have a fixed mortgage deal that’s not due to expire, you are usually responsible for early repayment charges. This can be a percentage of your total mortgage or a fixed fee, usually decreasing the closer the end of the deal is. You could also be subject to some admin fees with your current and new lenders.

However, our service is free* to arrange everything for you. We review your current mortgage and look at your reasons for wanting to remortgage. Taking your current situation and plans into consideration, we find you the best deal available.

How much does it cost to
remortgage?

The cost of remortgages depends on the reason, your remaining mortgage balance, and the current deal you’re on.

If you have a fixed mortgage deal that’s not due to expire, you are usually responsible for early repayment charges. This can be a percentage of your total mortgage or a fixed fee, usually decreasing the closer the end of the deal is. You could also be subject to some admin fees with your current and new lenders.

However, our service is free* to arrange everything for you. We review your current mortgage and look at your reasons for wanting to remortgage. Taking your current situation and plans into consideration, we find you the best deal available.

Why choose The Mortgage Way
for remortgages?

At The Mortgage Way, we have your best interests at heart. That’s why we spend time getting to know you and working out which options are right. If you’re feeling confused about what to do, or aren’t sure what your options are, we help to take that stress away with a team of supportive financial experts.

We don’t charge you a fee for our support*. Appointments can be made to suit your work schedule, and we explain everything in simple to understand terms.

Are you ready to chat about your potential remortgage? Give us a call on 01422 659067 and get confidence in your financial decisions.

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