Remortgaging to Release Equity
Remortgaging is a popular way to release equity from your home as tax-free cash. The main reason homeowners remortgage is to switch to a better deal at the end of a fixed-rate period – potentially saving thousands of pounds a year compared to rolling onto the Standard Variable Rate. However, you can also take advantage […]
Remortgaging to Buy Another Property
Remortgaging can be a great opportunity to do more than just refinance your mortgage to a better deal. Many homeowners release equity by remortgaging, and one common reason for doing so is to purchase a second property, such as a Buy To Let property or holiday home. If your home has increased in value or […]
Can I Remortgage if I Own My House Outright?
If you bought your home without a mortgage or if you’ve paid off your mortgage you own your property outright, which is known as owning an ‘unencumbered’ property. This is generally considered to be a financially stable situation to be in, however, it may mean that the majority of your money is tied up in […]
Why Do People Remortgage?
Remortgaging at the right time is one of the most financially savvy decisions a homeowner can make. Citizens Advice stated that the two-fifths of mortgage holders who fail to remortgage at the end of their fixed-rate period end up paying thousands of pounds more in interest every year. This is because, at the end of […]
How Does Remortgaging Work?
Remortgaging is when you replace your current mortgage with a new, and preferably better, deal. Doing this at the end of your fixed-rate period can save you thousands of pounds a year in interest – if you don’t remortgage you’ll move onto your lender’s Standard Variable Rate and your monthly payments will likely increase significantly. […]
Can I Remortgage Before My Fixed-rate Period Ends?
When you took out your mortgage, you likely entered into a fixed-rate period of 2, 3 or 5 years. After this period you’ll be put onto a higher variable rate. The majority of people look to remortgage at the end of their fixed-rate period so they continue to pay a lower interest rate. However, you […]
Can I Remortgage To Buy A Second Property?
Remortgaging your home to raise money to purchase a second property is extremely common. You can do it one of two ways depending on how much equity you own. If you have enough equity, you may be able to borrow enough money to buy the second property outright. However, it’s more common to release just […]
Am I Too Old To Remortgage?
The benefits of remortgaging in later life are no different than at any other time. You can save money, especially compared to rolling onto your lender’s default rate, or you can release capital for home improvements, to purchase a second home, or to consolidate debts. The good news is, mortgage providers are usually happy to […]
How Much Does it Cost to Remortgage?
Remortgaging is usually a lot cheaper than rolling onto your lender’s default rate. The upfront costs are minimal because many of the fees can be covered by the lender. If you don’t remortgage, you could pay a lot more interest than you need to. In this article, we’ll explain everything you need to know about […]
If My Circumstances Have Changed Can I Still Remortgage?
It’s not unusual for circumstances to change after taking out a mortgage, so don’t panic! In this article, we’ll focus mainly on negatively affected credit scores, but if your situation has changed in other ways – for example, your household income is less than it was when you took out your mortgage – then book […]
