Remortgaging is where the owner of a property is changing from one lender to another or by moving to a different deal with the existing mortgage lender.
For most people, a mortgage is their biggest financial commitment however with house prices, interest rates and family circumstances changing, remortgaging your home may be a money saving move.
The most common reason for individuals wanting to remortgage their home is to get a better mortgage rate. In the current climate, everyone is looking for ways to save money and remortgaging could be a great place to start. When we first apply for mortgages, it is often to an introductory rate which will end after a certain period. If your current deal if about to come to an end, it may be time to look at what other providers are offering.
As family circumstances change, you may find yourself in a fortunate position where you can pay off a large amount of your existing debt in one go. However, some lenders will charge you or even prohibit you from making early repayments. In this case, you may benefit by switching mortgage lenders who will enable to either pay a large amount of your mortgage off in once or shorten the length of your agreement. This could save you thousands in the long run so can be essential for many home-owners.
In addition, if you want to move home or borrow more money to cover other debts or large costs, remortgaging your home can be a great way to increase your loan at a low cost.
By trusting your conveyancing remortgage to PDR Property Lawyers, you’ll get:
- Fees from £349 plus VAT and disbursements
- The whole process explained from the start
- Friendly and knowledgeable staff
- Regular updates by phone and/or in writing as your case progresses.
Remortgaging can be a little confusing, but with over 10 years experience, our remortgaging solicitors we can help ensure your case runs smoothly and efficiently. So whether you're looking to benefit from a new rate or want to release some of the capital tied up in your property, we can make it happen.
Call today us today 01733 203873 for a free no obligation quotation.