If you own a house and are looking to remortgage there could be several reasons behind your search. At Central Mortgages we have access to a wide range of lenders, with remortgage services available to those with all sorts of different backgrounds, credit scores, and reasons to seek a remortgage solution.
A remortgage is the process whereby you take out a new mortgage on a property that you already own. This can be to borrow money against your property, or to replace the mortgage you are currently paying off. Around a third of all home loans in the UK are in fact remortgages.
Your Current Mortgages is Close to Ending – Some of the best mortgage rates are only available to borrowers over a short period of time (two to five years in most cases) on a tracker or discount mortgage rate. When this comes to an end you’ll automatically be put on a standard variable rate, so it could be the time to remortgage to a cheaper rate.
Your Home Is Worth More – If your property’s value has significantly increased since you bought it you might find that a remortgage allows you to take advantage of a lower loan-to-value band and lower rates as a result.
You Want to Borrow More – Your current lender might be in a position where they have said no to lending extra money, whereas a remortgage with a new lender could help you raise more money to borrow on a lower rate than you are currently tied to.
For more information about the remortgage lenders Central Mortgages has access to contact us today on 01277 630 183 or office@centralmortgages.net.
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