Rivington Mortgages Remortgage
Remortgaging is the process of switching your mortgage to another lender, or in some cases staying with the same lender whilst switching mortgage deals. Many mortgage holders are paying variable rate interest payments on their mortgage.
So what you are doing is ending your current mortgage and starting a new mortgage with a preferential interest rate. This will almost always involve switching lenders. Mortgage lenders offer discounted interest rates and desirable introductory offers to attract mortgage holders to remortgage with them.
Remortgaging was once considered as something you do in a crisis in order to gain extra finances, but now more and more people are remortgaging, and this is why:
Saving money - Reducing your outgoings
By switching to a mortgage deal with lower interest rates you could save money in the long term.
Debt consolidation - All your debts into one mortgage
Mortgage interest rates are some of the lowest available compared with other loans. By consolidating your existing debts into one manageable monthly repayment, those credit card bills, student loans, car repayments, utility bills or outstanding catalogue bills your monthly spending power could increase and ease the stress of debt into one more easily manageable low interest remortgage you could save money and make life easier. Please note that adding personal debts to your mortgage balance may lead to an increase in total costs and to an extension to the repayment term.
How to apply for a remortgage
Remortgage deals available from high street lenders are difficult to choose from. Rivington Mortgages hopes this website will help you to choose the most appropriate service by offering expert advice and our help in finding the best remortgage deal for you.
We normally charge no fees for mortgage advice, although depending on your circumstances a fee of up to 1.5% of the mortgage amount may be charged.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
You may have to pay an early repayment charge to your existing lender if you remortgage.
To find out more call us on 01204 699002
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