Whatever your reason for wishing to remortgage Simply Mortgages can help you to secure the best mortgage deals for your situation.
WHAT IS A REMORTGAGE?
A remortgage is where you take out a new mortgage on a property you already own – either to replace your existing mortgage, or to borrow money against your property for home improvements or to consolidate debts.
We are experts in providing advice that best suits your needs. Whether you are looking to find a more competitive interest rate or to release the equity in your property, our expertise is at hand to advise you.
Simply Mortgages assess the entire market to make sure we get you the best possible overall deal. We take the time to understand your requirements through a quality and discrete service. We have the knowledge to work with complex scenarios without causing unnecessary complication.
YOUR DEAL IS COMING TO AN END
Many of the best mortgage rates only last for a relatively short period, of time, often two to five years. This is typical length of time offered on a fixed rate, tracker or discounted mortgage.
When the initial rate period comes to an end, your lender will move you on to its Standard Variable Rate (SVR).
It is likely to be higher than your previous interest rate and higher than other mortgage products available on the market. If so, you want to be ready to remortgage to a more cost effective mortgage.The ideal time period to start looking at alternative rates is three months prior to the end of your mortgage deal.
YOU WANT TO BORROW MORE
Remortgaging to a new lender might enable you to raise money for other purposes. But remember to take any fees into account to ensure that it is cheaper compared to other forms of borrowing.
The most commonly acceptable reasons to raise money are for home improvements and paying off other debts. Be prepared for your lender to ask for evidence if you are borrowing a large amount, e.g. builder quotes or proof that you have paid off the debts.
We have a wealth of knowledge and experience in providing advice that best suits you. Whether you are looking to find a more competitive interest rate or free up equity in your home our expert advice is at hand to help you every step of the way.