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Remortgages can be used for various reasons. However, most people simply switch mortgages because it will work out cheaper for them.
For example, the introductory rate may have finished with your current lender and therefore you could potentially get a new rate or a lower APR with another lender.
Another example is when you may need to remortgage to carry out home improvements or possibly to consolidate some existing debts.
It is worth noting that a remortgage is not the best option in all cases. Even if the lender you are considering switching to is offering a lower APR, you must take into consideration the facts that:
The new lender may charge you for valuation and solicitors fees, even if you have already paid these for your mortgage with your current lender.
If you switch mortgage remember to look at the overall repayment period. You may be able to pay less monthly, but check the final repayment date of the mortgage as well.
Also you may be able to switch your mortgage deal with your current lender, avoiding any unnecessary costs. Many lenders will allow you to switch your mortgage deal reasonably frequently. We can help to find out what new deals your existing lender is offering.
We’re more than happy to come out and see you, at a time that suits. Evenings & weekends too, if needed!
Based in Thornton Cleveleys, Lancashire, and helping clients across Lancashire and the UK.
Mortgages by Louise & Associates provides expert mortgage, protection and insurance advice. Mortgages by Louise & Associates is a trading name of Just Mortgages Direct Limited and Mortgages by Louise & Associates is the name under which we carry out these services.
Mortgages by Louise & Associates is not a business in its own right, it is part of Just Mortgages Direct Limited, which is an appointed representative of The Openwork Partnership, a trading style of Openwork Limited. Just Mortgages Direct Limited was set up in 1989 and has been part of The Openwork Partnership since 2016.
The Openwork Partnership is one of the UK’s largest Financial Advice networks, with over 4,500 advisers and in excess of 700 appointed representatives based throughout the UK.
Our advisers at Mortgages by Louise & Associates will get to know your individual circumstances, establish what your goals are and what the right mortgage and protection arrangements are for you.
Disclaimer:
The information on this website is for use of residents of the United Kingdom only. No representations are made as to whether the information is applicable in any other country which may have access to it.
Mortgages by Louise & Associates, 17 Victoria Road East, Thornton Cleveleys, FY5 5HT
Mortgages by Louise & Associates is a trading name of Just Mortgages Direct Ltd, which is an appointed representative of The Openwork Partnership, a trading style of Openwork Limited which is authorised and regulated by the Financial Conduct Authority. Just Mortgages Direct Ltd registered office: Colwyn House, Sheepen Place, Colchester, Essex, CO3 3LD Registered in England & Wales No 2412345
The Information on this website is subject to the regulatory regime and is therefore targeted at consumers in the UK.
Approved by The Openwork Partnership on 30/10/2023.