See if you could save money by moving your mortgage
There are various reasons why you might want to re-mortgage your home. Perhaps you are looking to take advantage of a more competitive interest rate, or you need to borrow more money and your current mortgage doesn’t allow for that, or you want to be able to make overpayments.
Big changes in your life, planned or unexpected, could mean that your current mortgage no longer suits your needs. Whether you’re starting a family or expecting a significant change to your income, re-mortgaging could give you a chance to find a more competitive deal that’s a better fit for you now and in the future.
INCREASED FLEXIBILITY TO BORROWING MONEY
Re-mortgaging can also help you save money on your monthly payments if interest rates have gone down since you took out your original mortgage loan. You could potentially save a lot of money by switching to a new mortgage deal with a lower interest rate.
It could also give you more flexibility when it comes to borrowing money. If you need to borrow more money for a home improvements project or for another reason, a new mortgage may allow you to borrow more than you were originally approved for.
MORE AFFORDABLE MONTHLY PAYMENTS
When you re-mortgage, you take out a new loan to pay off your old one. This new loan usually has a lower interest rate than your original mortgage, which could save you a considerable sum of money, possibly thousands of pounds, over the term of your mortgage loan.
You might also be able to obtain a longer repayment term, which could make the monthly payments more affordable. But there are a couple of things initially to consider when deciding whether to re-mortgage your home. The first is whether you can afford the new mortgage payments. The second is whether you will be able to save money in the long run by switching to a lower interest rate.
DIFFERENT INTEREST RATES AND TERMS
If you’re thinking about re-mortgaging, it’s important to ensure you obtain the right mortgage deal for your particular situation. There are a lot of different lenders out there, and each one offers different interest rates, terms and fees.
We can help you by comparing the different offers and finding the loan that’s right for your requirements. And the good news is that if everything looks good, the lender will approve your application and you will be able to switch to a new mortgage
Speak to a Broker
To discuss your mortgage options, complete the form below and an Independent Mortgage Broker will be in touch.
Advanta Mortgages gives you access to a broad range of mortgage solutions. If you’d like to know how we can help with your investment and wealth planning needs, get in touch. We’ll be delighted to provide more details of our services. Please contact us using one of the options listed below.
130 Buckingham Palace Road,
London, SW1W 9SA
121 West Regent Street,
Glasgow, G2 2SD