Re-Mortgages

FAQ:

Got Questions? Check out our FAQ section.

It is always best to review your mortgage on a regular basis. As you approach the end of a fixed or low rate term you may be offered another deal by your existing lender, but how do you know it is competitive?

Mortgage products change daily, and an independent broker is the only person to give you a market wide appraisal of the current situation. Keeping payments to a minimum is the sensible way to run a mortgage, and could save you many thousands over the mortgage term.

Many lenders will offer incentives to people remortgaging their home such as free valuation, or free legal services. In some cases there are completely fee free deals available, but if the payrate is too high they can prove to be very expensive over the mortgage term.

As an existing customer, we make sure that we keep in regular contact with regular newsletters to inform you of market conditions. We always write to you three months prior to the end of any fixed or low rate period to outline your options at that time. This guarantees a smooth transition from one lender to another should you decide to move your mortgage.

The fall in property values over the past year or so has caused issues in some cases where the existing mortgage originally taken at perhaps 75% of the property value is now increased to 85% or higher. This has a large impact on the rate charged by a new lender, and in many cases the best advice will be to remain with the current mortgage provider until the market alters in the coming months.

Your home may be repossessed if you do not keep up repayments on your mortgage.

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