Trust our advice if you are considering remortgaging your home. We can help you to secure competitive rates, benefit from greater flexibility or release capital from the property. 

Although you agreed to pay your mortgage lender for a period of up to 40 years, there are times when it makes sense to explore the options. Different products or lenders could reduce your monthly payments or offer better terms. 

Before the Fix Term Period Ends 

When the fixed term period ends, your mortgage is likely to revert to the lender’s Standard Variable Rate. In some cases, this can be favourable, but this is a good time to review your options. Other lenders may have introductory periods that are favourable. Speak to our advisers and we will help you find and switch to more competitive terms. 

Greater Flexibility 

If you have received an inheritance or been promoted, remortgaging could allow you to achieve full homeownership in less time through over-payments. Alternatively, a drop in income could be causing you concern. We want to help you to keep up with the repayments, so will explore solutions including the flexibility offered by mortgage holidays. 

Loan to Value

Loan to value is used by lenders to calculate risk. It concerns the percentage of the value of the property that you ask to borrow. If you can make a 50% down payment and need to borrow 50%, the risk to the lender is considerably lower than if you need to borrow 90%.

If your property has seen a significant increase in value, the loan to value ratio may have changed in your favour. This can lead to better mortgage deals. 

Releasing Capital 

Remortgaging is also a means of releasing capital. This could fund property renovations or enable you to contribute to a deposit on a second home. It is important to be clear of any financial penalties that may be incurred and the true cost of repayment. Speak with our advisers before you take action and they will help you evaluate the information. 

Is it a Good Idea to Remortgage? 

It is important to fully understand the full implications of remortgaging including the reassessment of your financial position, charges and long terms costs. It can be a minefield, but our mortgage experts will guide you through and help you to make a fully informed decision. 

Please contact David Milbourn on 01442 874888 or via email to david.milbourn@sjpp.co.uk for an appointment to explore remortgaging options.

We are happy to discuss mortgage protection options that can take a weight off your mind.

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