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Your mortgage may have been the most suitable deal for your circumstances at the time but is it still performing as well as it could?
Remortgaging is a good way to escape high variable or fixed interest rates and more and more UK homeowners are moving their mortgages to potentially help save money. Even if you have just come out of a special deal and are obliged to pay a penalty if you change, do not be deterred, re-mortgaging often reduces your monthly mortgage payment enough to still save you money in the long run.
In recent years remortgaging has become a much simpler and more common process. More and more lenders are offering specialist remortgaging services - often with free legal and arrangement fees.
As well as reducing your monthly payments, you can also use remortgaging to release the equity that's built-up in your property over time. If you have owned your property for several years, it could be worth more than your outstanding debt therefore taking out a larger mortgage could release some extra cash. This could be spent on home improvements, a new car or a luxury holiday if you like.
When you re-mortgage, you are essentially replacing your existing mortgage with a new one, moving your debt from one lender to another. There are thousands of mortgages available across the market and Independent Lending will take into account what different lenders are offering at present and find the most suitable deal for your new circumstances.
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Independent Lending is a trading style of Vitty Alexander Financial Services Limited, which is authorised and regulated by the Financial Services Authority for pure protection, residential mortgages and general insurance business. We do not charge a fee for residential mortgage advice, however there is an administration fee for processing each of your standard residential mortgage contracts. The typical administration fee is £499, of which £199 is payable on application and the balance on completion. For impaired credit lending the typical fee is 1% of the mortgage loan of which £299 is payable on application and the balance on completion. For Self Certification Mortgages, the typical fee would be 1% of the mortgage loan of which £199 is payable on application and the balance on completion. For Buy to Let Mortgages a fee of 0.5% of the mortgage loan size applies, of which £250 is payable on application, with the balance payable on completion.
Trading Address and Registered Office: 4 Westbrook Court, Sharrow Vale Road Sheffield. S11 8YZ
Registered in England and Wales Number 5479920
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME
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