Re-mortgages made simple….
Why re-mortgage?
To save money
If your current mortgage deal is about to end, you may wish to re-mortgage to a better deal. Timing is everything – getting a new deal in place can avoid you paying your current lender’s expensive Standard Variable Rate.
If you’re still tied into a deal with your current lender, there may be an Early Repayment Charge if you re-mortgage during this period. Your Coast & Capital mortgage adviser can advise you on the best course of action for your individual circumstances.
To raise money
Longing to do that extension or for your dream kitchen? Re-mortgaging can be a convenient way of raising some extra money by increasing the percentage of your home’s value that you borrow against. For example, you may use the money raised for home improvements such as an extension or renovations that can increase the value of your home.
Alternatively, you may wish to raise money to purchase a second home or an investment property. Speak with one of our advisers to find out more.
To switch to a more suitable mortgage
Circumstances can change – and it’s important to make sure you always have the best deal and product that matches your needs. A different type of mortgage with different terms or features might be a better fit.
If you’re starting a family, for example, you may decide that the predictability of a fixed-rate re-mortgage deal is now more important to you than the low repayments of a tracker mortgage. Or you may be earning more than when you took your mortgage out and want the ability to make overpayments with no penalty. Our advisers will find the right mortgage for you and your circumstances.
Debt Consolidation
If you’re struggling financially with your monthly credit commitments, you may be able to re-mortgage to consolidate your debts. This can drastically reduce your monthly outgoings and make your finances more manageable. At Coast & Capital Mortgages, we’ll work with you to find the best solution.
Think carefully before securing other debts against your home. Consolidating debt may reduce your outgoings now, but you may end up paying more overall. Your home may be repossessed if you do not keep up repayments on your mortgage.
An experienced team of mortgage experts
At Coast & Capital Mortgages, we pride ourselves on being a small, dedicated team with a wealth of experience in the mortgage industry. With expert knowledge of the market, alongside our close relationships with lenders, you’re in good hands!
