Let us find you the Perfect Remortgage!
Once you are close to the end of your mortgage term, we advised that you begin to look at a Remortgage. Our team of expert Mortgage Advisors in Leeds will look at your current deal and find a way to help you switch to one with more favourable interest rates.
If you’ve gotten in touch with a Mortgage Broker in Leeds like us, you would have gotten sent a reminder around several months before your term is due to finish, to get the ball rolling ahead of time.
Remortgage rates mostly follow the base rate of the Bank of England. At the time of writing, interest rates have been at an all-time low since March 2009. Meaning those who are currently on higher rates may be able to transfer to a lower rate, saving them money on their monthly repayments.
Should I Remortgage with a new Mortgage lender?
We tell every customer to look around first before you commit to the same lender. There could be hundreds of better deals with lower rates out there, don’t stick with the same lender just because it’s the more relaxed approach, but keep in mind. Lenders don’t reward loyalty; in fact, we have seen that they give offer better deals to new customers than to customers who have been with them for several years!
Remortgage Advice in Leeds for home improvements
Some home improvements such as extensions, or loft conversions can be huge investments that can add more value to your property. People who are not looking to enhance their property value and have found their “dream home” will also borrow for home improvements.
There is nothing wrong with this, gives their home a bit of a transformation. Raising this money for your home improvements work for both cosmetic changes as well as structural renovations.
Capital raising Remortgage Advice in Leeds
You can raise capital on your property when you remortgage, for almost any legal reason. In any case, this could be for large consumer purchases, gifts to help family members, to purchase a Buy to Let property or for debt consolidation.
Debt consolidation Remortgage Advice in Leeds
Adding unsecured debt to your mortgage may result in you paying back more interest overall. It’s usually because a mortgage term is usually much longer than the length of a personal loan. Though this isn’t always a guarantee and there may be another reason for this.
You will need to consider that you are taking unsecured debt and securing on your home. Which will not sit comfortably with everyone as you are under the risk of repossession if you cannot afford your mortgage payments down the line.
You will need to know that if you have 0% credit cards, the interest rates that apply to the debts you wish to pay off using your Remortgage will start attracting interest too.
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