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Remortgage

Here are a number of reasons why you may want to remortgage your property:

Get A Lower Rate…

If you have been holding off looking at getting a new mortgage deal because you feel that the standard variable rate at your lender is low, now could be a good time to review your deal as average standard variable rates have been on the increase recently.*

Get A More Secure Deal…

If you are on a variable rate and are worried that interest rates may rise, you may want to consider a remortgage to a fixed rate. This anchors your monthly payments down at a set level, so you can rest assured you will not pay more when interest rates increase.

Remortgage To Make Home Improvements…

Remortgaging to extend a house, add a conservatory, renovate a kitchen or bathroom or carry out a loft conversion can make you happy and can add to the value of your property. Many mortgage lenders offer special rates to homeowners who want to remortgage to make home improvements.

Raise Some Capital Or Consolidate Your Debts…

You may want to remortgage to free up some cash to finance a one-off purchase such as a car, a second home abroad or if you have a lot of credit card and personal loan debt. You could potentially reduce your monthly payments by consolidating your debts into your remortgage. This is because the interest rate on a mortgage is often around 10% lower than the interest rate on a credit card. However, adding these debts to your mortgage may also cost you more over the longer term.

Finance A Buy to Let Purchase…

If you believe there is money to be made in property investment, you could remortgage and use the extra cash to put down a deposit on a Buy To Let venture. But don’t forget, becoming a landlord is a complex process and there are risks involved.

*Bank of England Statistical Interactive Database Table CFMBX2D. June 2012 – June 2013.

No fee for Life Assurance, Critical Illness, Income Protection, Accident Sickness & Unemployment, Home Insurance, and Private Medical Insurance. We will be paid by commission from the company.

A fee of £495.00 £995.00 payable on completion. We will also be paid by commission from the lender. A fee of £250.00 will be payable if you decide not to proceed after the lender has made an official offer.

The Mortgage Factory is a trading name of Mortgage Factory UK Ltd , which is an appointed representative of Intrinsic Mortgage Planning Limited and Intrinsic Financial Planning Limited who are authorised and regulated by the Financial Conduct Authority (see the FCA register at www.fca.gov.uk/register/, references 440718 and 440703). Your home may be repossessed if you do not keep up repayments on your mortgage.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

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