Remortgaging

People decide to remortgage for many reasons.

It is generally less complicated than applying for a mortgage in the first place and in some cases, it may actually be easier.

But why would you bother? Well, in some cases, you may well be better off staying with your current lender (eve with costs incurred). But in many cases, you might find after your first few years that you should consider a move to …

Get a better interest rate Give you a more flexible mortgage Free up some equity Obtain better service from your lender Transfer to a “Buy to Let” mortgage … and many other reasons

People have remortgaged in order to;

Purchase properties to rent out (Buy to Let) Purchase property abroad Consolidate debts into one loan Home improvements (extensions, loft conversions, conservatories, refurbishments etc) Planning a major event (Wedding, Birthday, Christening, other celebration etc) School Fees Planning Further Education Purchase a specific item (car, boat, plane etc) Fund a parent or relative’s Long Term Care Business purposes

If you are considering remortgaging, make sure you look at all options very closely. There will almost certainly be costs involved with leaving your current lender and sometimes costs to set up with another.

Don’t just chose to do nothing “because it’s the easiest option”, as sometimes it will be the option which gives you the worst medium term financial outcome. If in doubt, seek advice.

 

Buy-to-let mortgages are not regulated by the Financial Services Authority.

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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This website is the website for Charles Antony, an Appointed Representative of the Whitechurch Network Limited, which is authorised and regulated by the Financial Service Authority.

Your home may be at risk if you do not keep up payments on a mortgage or other loan secured on it.