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| If you think that you're paying too much for your current mortgage, then you probably are and you're not alone. An estimated 80% of UK property owners are paying too much on their home loan. There are currently millions of borrowers paying their lender's standard variable rate (SVR). No lenders SVR will be the best deal they can offer. |
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 More and more UK homeowners are moving their mortgage to save money. Which is a good thing, considering that mortgage rates have dropped considerably over the last few years. If you are looking to replace your existing mortgage for one with lower repayments, why not let us find the best mortgage for your needs. |
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A remortgage is essentially no different to a normal mortgage, with one crucial difference - you are not buying a house. All you are essentially doing is taking out a new mortgage to replace the old one, while shifting your debt from one lender to another.
In today's competitive market, many borrowers choose to switch their mortgage every few years in order to take advantage of the new rates on offer. However, a remortgage also allows you to release the equity that has accumulated over the years. Equity is the difference between your current mortgage and your property's value.
If you consider how house prices have increased in recent years, this could be a substantial sum. The extra cash you release could be used for any purpose such as a wedding or your child's university costs. It might even be enough for you to consider buying another property to rent out (or using as a deposit for a buy to let mortgage). |
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| In the not too distant past anyone hoping to buy a property with the sole intention of letting it out was forced to opt for an expensive commercial mortgage. However, with the continuing boom in the housing market more and more mortgage lenders now offer a variety specialist buy to let mortgages. |
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In the summer of 2003 the UK buy to let mortgage market was estimated to be worth more than £40 billion, as more and more people want to take the next step up the property ladder. |
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There are now around 70 lenders offering range of deals that now include discounted rates, fixed rates, variable rates, tracker mortgages, flexible features and even self certification mortgages, many of our schemes only require rental income only, we help to make buy to let an investment that is accessible to a broader section of the population.
By remortgaging a buy to let property you are likely to get a much better deal, especially if you took out your mortgage before 1996. Prior to this date buy to let mortgages didn't exist and borrowers had to rely on comparatively expensive commercial mortgages. Remortgaging also allows you to free up capital that could be used to put down as a deposit on another property.
Landlords are often put off remortgaging a property because they think that the 'hassle' involved outweighs the benefits. The financial benefits are very real and you'll find that we go out of our way to make the process as painless as possible.
Remortgaging isn't nearly as much hassle as most people think - particularly if you use our simple online remortgage enquiry form. Then one of our dedicated mortgage advisors looks after your remortgage for you - making it all less effort than you first imagined!
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage. |
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