If you’re looking to remortgage but you’re not sure what’s your best option in the current climate, put your trust in Your Mortgage People.
As CeMAP qualified Mortgage Advisors, we search the whole of market to identify the best option for you, taking care to explain all your options and alternatives.
Remortgaging is an opportunity to find a better deal than the one you’re currently on and hopefully reduce your monthly outgoings – whilst avoiding the uncertainty of the Standard Variable Rate.
To speak to one of our friendly advisors, hit the button below.
The process of remortgaging usually occurs when a deal is due to expire, and involves applying for a new mortgage with a different lender while staying in the same property. Just like when you applied for your mortgage originally, the point is to review your current circumstances and decide what kind of deal suits you best.
If your deal expires in the next 6 months, now is the time to start looking for a new one. Not only will this allow you to avoid the impact of further interest rate rises, but it will also reduce your chances of falling onto the Standard Variable Rate. This automatically happens if a fixed, tracker or discount deal mortgage comes to an end and a new deal hasn’t been arranged. The Standard Variable Rate is usually significantly higher than the rates agreed on other types of mortgages, meaning your monthly repayments are higher.
Remortgaging in the current climate is a worrying process for many but our qualified, expert mortgage brokers have your best interests at heart.
1. Send us an enquiry to let us know you’re ready to remortgage
2. Your advisor will make contact and tell you all about our process so they can begin finding you the best deal
3. We help you gather together everything you need for your application, and submit it to the lender
4. The lender confirms their mortgage offer and your new mortgage begins on the new terms agreed
5. Funds are released by the lender at the amount agreed in the mortgage terms, with you repaying the amount with interest as part of the mortgage
To discuss remortgaging or other options available to you, speak to one of our friendly, experienced advisors today by completing the form below.
Loan to Value is a term used to identify the ratio of your borrowing against the value of the mortgage. An example of this is as follows – you apply for a mortgage of £100,000 and have 25% equity. This means your loan to value ratio is 75%.
