Remortgage Options | Equity Finance
Getting a better rate:
One of the main reasons to remortgage is to get a better rate (especially
if you had an introductory deal which has ended and you are about to revert to an
uncompetitive standard variable rate).
You might want to remortgage on to a fixed rate so that you know exactly what your
repayments will be for a certain period. Alternatively you may wish to take advantage
of low base rates with a discount or tracker mortgage. Don’t forget that lenders
charges such as arrangement fees and early repayment charges can vary considerably.
It is easy to be drawn in by what appears to be a fantastic deal. It is important
to make sure that you have checked the detail and compared various remortgage offers
to make sure that you have got the best deal overall. A mortgage broker can guide
you through this maze and will normally have access to a wide range of different
mortgages.
Home Improvements
Many people decide to remortgage to improve their own home rather than moving. Often
adding an extension, fitting a conservatory, updating the kitchen or bathroom or
just giving their house a complete overhaul can make the home feel like new. This
can involve large sums of money and a remortgage may be the most cost effective
way of raising the money. It is worthwhile approaching your existing mortgage lender
to see if they can help, but it may also be a golden opportunity to review your
mortgage deal to see what else is available.
Consolidating debt
You may wish to remortgage your home in order to pay off more expensive debts and
most mortgage lenders will allow you to do this so that you can reduce your monthly
outgoings. You should be aware however that you may pay more in the long-term if
you are repaying the debt over a longer period of time. Don’t forget mortgage lenders
may repossess your house if you do not keep up the repayments on a mortgage
Bad Credit Remortgage
If you have a bad credit record in the form of a County Court Judgement,
missed payments, defaults or
previous bankruptcy, you will probably need a specialist remortgage from
a specialist lender.
How can Equity Finance help?
Whatever your reasons for wanting to remortgage your existing property, Equity Finance
can help. We have operated in the specialist remortgage market for over 17 years
and, because of our relationship with lenders, we are likely to have more options
for remortgage solutions than most brokers. Whatever your reason for needing a remortgage
we have a range of lenders to suit your needs.
To discuss your remortgage requirements in confidence, call free on 0800 594 5904
or apply online.
NOTE: Think carefully before securing other debts against your home. Your home may
be repossessed if you do not keep up repayments on your mortgage.