Remortgaging

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

Equity Release will reduce the value of your estate and can affect your eligibility for means tested benefits.

When you remortgage your home it means that you are switching to another mortgage deal and usually this means changing lender.

There are various reasons that people remortgage. It could be to save money, for example you could find that your introductory discounted interest rate has ended and you are now paying too much for your mortgage, or you may need to remortgage in order to consolidate debts and reduce your outgoings. You might need to release equity for home improvements or because you are dividing up marital assets, or you could be coming out of your fixed rate deal and worried that the variable rate is too expensive.

At Derngate Wealth Management we can help you to determine if remortgaging will help you to save money, release equity or reduce your outgoings, and our mortgage advisors can compare all of the deals available to find the right one for you.

What you need to know about remortgaging

Even though you could potentially get a new discounted rate or a lower APR with another lender it is worth remembering the following:

  • Your new lender could apply valuation charges or solicitor fees, even though you have already paid these to your previous mortgage lender.
  • Your repayment period could be longer or shorter, resulting in a different final repayment date.
  • You may have a redemption penalty if you move your mortgage before your current deal ends.

We will take into account all fees and charges, as well as the term of the mortgage to make sure you are moving onto a better deal with no hidden costs. We have a close relationship with the lenders, and can help you secure the right mortgage product to suit you and your circumstances. We can obtain an ‘agreement in principal' on your behalf allowing us to source the lenders that most appropriate suit your circumstances.

If your existing lender has offered you another deal we can check that this is the most suitable option for you.

Talk to Derngate Wealth today, and be safe in the knowledge that we are working for you, not the lender.

CALL TODAY - 0800 612 9031

Quick Remortgaging Enquiry