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If you are at the end of your mortgage term, chances are you’ll be moving onto a rate that isn’t the most suitable available. To ensure you are getting the most suitable rate, you should consider the option of remortgaging. More so you might also be able to capital raise from your home to pay down any debts, fund your child’s education or even purchase a buy to let property.
Finding the most valuable deal with a remortgage involves a hefty bit of research and comparison. We’ll do the leg work for you, exploring options in finding the most suitable mortgages for you circumstances.
Consolidate debts, release funds for home improvement projects or pay for your child’s university fees. These are all ways to leverage your home’s earned equity when taking out a new mortgage product.
Whatever your reasons for remortgaging, finding the solution suited to your circumstances is our first and highest priority.
Speak to one of our friendly advisers today, and download your credit report via 'Check my file', to kick start the process.
When considering remortgaging, it’s essential to evaluate several factors to ensure you make an informed decision. Here are some key aspects to keep in mind:
In summary, when considering remortgaging, it’s crucial to evaluate the timing, interest rates, fees, equity, financial circumstances, and future plans to make the most suitable decision for your specific situation.
Various factors can affect the remortgage process and the mortgage deals available to you. Some key elements include:
In summary, the factors affecting remortgage include the loan amount, loan term, property value, financial stability, and credit history. By carefully considering these elements, you can better understand your options and make well-informed decisions during the remortgage process.
When preparing to remortgage, there are certain actions you should avoid to ensure a smoother process and improve your chances of securing a favourable mortgage deal. Some key points to keep in mind include:
In summary, when preparing to remortgage, it’s essential to avoid applying for new credit, maintain consistent spending habits, and stay out of your overdraft to improve your chances of being approved for a favorable mortgage deal.
The purpose of remortgaging is for homeowners to either switch to a new mortgage deal or obtain a larger loan by releasing additional funds from their home’s equity. Often, mortgages come with a fixed or introductory low rate that expires after a specific period, typically a few years. Once this period ends, the interest rate may increase, leading to higher monthly repayments.
By remortgaging, homeowners can secure a new mortgage deal with more favourable terms, such as a lower interest rate, helping them to maintain or reduce the costs of their mortgage. Additionally, remortgaging can provide access to extra funds if the homeowner wishes to release equity from their property for purposes like home improvements, consolidating debts, or making significant purchases.
In summary, the primary purpose of remortgaging is to obtain a more advantageous mortgage deal or release funds from a home’s equity to address financial needs or goals.
A bank may decline a remortgage application for various reasons, with the primary factor usually being the applicant’s financial situation. Some specific issues that can lead to a declined remortgage application include:
In summary, a bank may decline a remortgage application due to the applicant’s financial situation, including poor credit history, insufficient income, high debt-to-income ratio, or changes in personal circumstances. It’s crucial to address these issues before applying for a remortgage to improve the likelihood of approval.
Our friendly advisers are available Monday to Friday, for a no obligation consultation.
THINK CAREFULLY BEFORE SECURING DEBTS AGAINST YOUR HOME OR PROPERTY. Your home or property may be repossessed if you do not keep up repayments on your mortgage. Hearthstone Mortgages is a trading name of Hearthstone Advisory Limited, which is authorised and regulated by the Financial Conduct Authority (FRN: 945282). Hearthstone Advisory Limited is a company registered in England and Wales (Company Number 10563329) with its registered office at Europa House, Marsham Way, Gerrards Cross, Buckinghamshire, SL9 8BQ. View us on the FCA register. We are a credit broker, not a lender. We may receive commissions that will vary depending on the lender, product or other permissible factors. The nature of any commission model will be confirmed to you before you proceed.
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