Did you know that if you are within 6 months of your mortgage deal coming to an end, start looking now, you may be able to get out of your current deal early, without incurring any penalty?
Why would someone want to re-mortgage? There could be many reasons someone would like to re-mortgage, however, usually, it is to that they can move onto a better deal, business cash injection, helping children with deposits for their own home, consolidating debts, or carrying out home improvements.
This would mean re-mortgaging your property, you will need the property to have decent-sized equity that can be re-mortgaged. It would be worth talking to an experienced broker before undertaking, as there are many factors to consider in the re-mortgaging process.
What types of re-mortgage products are there on the market? the second charge, further advance, re-mortgage onto a better deal with capital raising.
A quality broker will do the groundwork for you and will guide you along the journey of re-mortgaging, as they are experienced in dealing with solicitors, lenders, and many other areas.
A key thing to remember with any mortgage is key advice from the FCA (Financial Conduct Authority) “your home may be repossessed if you do not keep up with payments”.
Attention: Late repayments can cause you serious money problems. For help go to moneyhelper.org.uk