Guide to Mortgages
Why Switch Mortgage?
Often mortgages start on a special rate for the first 2 - 3 years, after this period your mortgage payments may automatically revert to the lender’s standard variable interest rate. This could mean an increase in your mortgage payments.
The good news is that we may be able to negotiate a new mortgage deal to reduce your monthly mortgage payments. You may be eligible for a lower interest rate with another lender; however, this will depend on your circumstances.
At The Mortgage Shop we aim to select the best product in the market to suit your individual needs and understanding your reasons for remortgaging will help us consider your options.
- Need to consolidate your debts / have just one loan? This may result in lower monthly payments but extend the term over which the debt is paid and the overall cost may increase.
- Like to raise cash from the equity in your home?
- Want to lower your monthly repayments?
With competition between lenders, let us shop around to find the best deal for you. We will also liaise with solicitors and valuers to make the process as smooth and easy as possible for you.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
Typically we do not charge a fee, however if we do, depending on your circumstances it will be a maximum of £300.
Call us today on Freephone 0800 028 60 70 or to request a call from your local professional mortgage advisor click here.
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