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Tips for getting best remortgage quotes in UK Remortgaging can be one of the best financial decisions you can make potentially saving you £1,000s over the course of your mortgage term. However it is important to make sure you get the best type of mortgage to suit your needs. There are an ever increasing number …
Currently I am on Standard Life’s Standard Variable Rate of 6.75% paying £878 per month. The mortgage balance is about 137,000 and is for a term of 32 years. I have been with the standard life for nearly 3 years. Originally the mortgage was a self-certification mortgage. At the moment I thought it would be …
Continue reading “Getting a Remortgage Quote with own Lender”
It is often said, that those who give advice, seldom want to follow it. Despite running a mortgage website and writing frequently about the benefits of remortgaging, for some reason, I spent at least 18 months on a SVR with my bank. The reason is that I investigated remortgaging with many of the high street …
In the UK, the majority of homeowners have benefitted from significant house price rises. For example, the average house price has more than doubled in the past 5 years. (why house prices have increased so much) This means that many homeowners have the option to remortgage and gain greater equity withdrawal. This means they will …
Continue reading “Remortgaging: What happens if House prices Fall?”
For most homeowners your monthly mortgage payments will be your biggest regular outgoing expenditure. Statistics suggest mortgage payments take on average 22% of disposable income. However, for young first time buyers this % can be as much as 50%. (Before remortgaging I paid £890 a month out of a monthly salary of £2,000. These are …
There are three good reasons to look to remortgage your property. 1. If you want to take advantage of new interest rates or your old deal is coming to an end.2. When you need to increase your loan to pay for improvements, extensiond or serious repairs.3. When you want to change the terms of your …
Buy to let investors often have a particularly good reason to seek the best remortgage quote often there mortgage payments are a high % of the house prices. An interest rate of 1% can make the difference between making profit on a house and making a loss. At the same time if the mortgage is …
Costs of Remortgaging include Seeking advice about mortgage deals should be free there are many no fee brokers who can offer advice. They earn their money by gaining commission from the mortgage dealer you recommend. However if regulated by the FSA they should offer impartial advice. Solicitors fees and disbursements will cost around £300 this …
Advantages of Remortgaging If like most people you are paying one of the large banks or building societies standard variable rates, you can probably cut your mortgage costs by unto a third. For example on a £100,000 mortgage at a standard rate of 6.5% you will pay £542 a month. If you were able to …
One attractive feature of taking out a remortgage is the ability to consolidate your various debts and debt interest payments in one place. To significantly reduce your financial pressure you should first start by looking at how much you owe and then see whether you can get a good re mortgage deal which will enable …
Self Certification Remortgages Remortgaging is one of the most productive financial decisions you can make. Often the Standard Variable Rate that most existing borrowers end upon is not the best offer that financial institutions have on offer. In particular many people find that the only way to get a mortgage in the first place is …
Advice for Remortgaging in the UK Remortgaging is Time Well Spent Many people assume Remortgaging will take a long time. However, the process can be relatively straightforward. Most banks are eager to gain your custom and so will try and do most of the work for you. The whole process may take 4-5 weeks, however, …