REMORTGAGING YOUR PROPERTY
Looking To Remortgage in Bristol?
We Can Help You To Find The Right Mortgage Deal.
Your Home May Be Repossessed If You Do Not Keep Up Repayments On Your Mortgage.
If you are coming to the end of your fixed-rate mortgage and you’re worried about falling onto the high variable rate, we are here to save you time and save you money when you come to remortgage. We want to make sure you are not paying too much for your mortgage.
If you are asking, can I save money on my mortgage payments? We’re here to give you the answer and make sure that the whole process is as easy as possible. We know that life is stressful enough, so we are here to take that stress away so you can concentrate on the more important things.
We’ve helped many clients across Bristol and across the UK to remortgage their properties for lots of different reasons. It is important to remember that an early repayment charge may be applied by your existing lender if you remortgage too early. Get in touch so that we can help you to save time and save money, and make the process as easy as possible.
So, What Exactly Is Remortgaging?
Remortgaging is when you switch from your existing mortgage product to another. This can be with an existing lender or more commonly, with a different lender with more competitive products. In today’s market, it is an essential exercise to make sure you aren’t paying too much for your mortgage.
It is important to remember that an early repayment charge may be applied by your existing lender.
When Can I Remortgage?
The decision whether or not to remortgage will depend on your existing mortgage. You may find that your current mortgage has a fixed period, therefore meaning that you can’t remortgage without facing an early repayment charge. Here at Lloyd Wells Mortgages, our team will be able to help you throughout the remortgaging process, to review your current mortgage and find the right remortgage deal for you.
How Long Does Remortgaging Take?
The time it takes to remortgage your home will depend on personal circumstances. However, typically the remortgaging process will take between several weeks and several months to complete. This time frame will depend on how long it takes for the mortgage lenders involved to issue a new mortgage and whether any more complex issues arise during the process.
Why Do I Need a Mortgage Advisor To Remortgage?
An independent mortgage advisor will be able to provide you with a wide knowledge of remortgaging and finding the best deal from various mortgage lenders. We will search the market and carry out all of the research needed. We’ll discuss with you the loan-to-value ratio of your new mortgage, understand how much is left on your current mortgage term, and where your home’s value currently stands.
Find Great Mortgage Deals When Remortgaging With Lloyd Wells
If you want to remortgage your home and find a new mortgage, here at Lloyd Wells, we’ll do all of the remortgage work for you. Where possible, we’ll find a better mortgage deal that suits your personal financial circumstances, with monthly repayments that you can afford.
We believe in the importance of clear communication, and will make sure that you are kept fully informed throughout the whole remortgaging process. In fact, with a wide range of experience in all types of property finance, we’ll give you all the advice you need as a leading mortgage broker in Bristol and the rest of the UK.
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If you want further advice on how to switch mortgage provider and potentially save, contact us today.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
CONSOLIDATING DEBT MAY REDUCE YOUR OUTGOINGS NOW, BUT YOU MAY END UP PAYING MORE OVERALL.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Frequently Asked Questions
Below are some of the most frequently asked questions about remortgaging.
Remortgaging is usually done to lower the amount you’re paying each month for your mortgage, to repay debt or to raise funds. You don’t have to buy a new property to remortgage. Remortgaging your property could allow you to save money on your monthly repayments, or to repay your mortgage sooner. If your current lender doesn’t offer a better deal or more flexible mortgage on its other products, you may want to consider switching your mortgage to a new lender.
A good rule of thumb is to start looking for a new mortgage around three months before your current mortgage deal ends. Say you have a three-year fixed-rate mortgage, you should start looking for a new deal when you’re 33 months into the 36-month fixed period.
When you have a new mortgage offer, you should have around three to six months to accept it.
There is no limit to the number of times you can remortgage your home. However, most people choose to do so when their fixed-rate period ends.
When you remortgage you can choose to borrow more money by increasing your mortgage loan.
Yes! In fact, it can be helpful to reduce the term each time you remortgage. The longer your mortgage term, the lower your mortgage payments will be, but the more interest you’ll pay overall.
When you remortgage, the lower the loan-to-value you require, the more deals you’ll find available to you from lenders.
You can remortgage with your existing lender, or choose a new lender. Shopping around for new remortgage deals can open new opportunities to save money and reduce monthly payments.