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Remortgage

Remortgaging is the simple process of moving your current mortgage from one lender to another.
 
Typical reasons for remortgaging are:
  • To obtain a cheaper mortgage interest rate. If mortgage rates have changed since you took out your current deal, you might be able to save money by moving to a cheaper mortgage.
  • Raising money against your home to spend on other things like a dream holiday, a new car or home improvements which can increase the value of your home such as an extension or landscaping your garden.
  • Simply consolidating debt. You want clear off some unsecured debt (such as a loan, credit card or overdraft etc) and add this money onto your mortgage. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

What happens next?

The first stage of your application is for your broker to obtain a decision in principle. Once you have this decision your adviser will then proceed to a full remortgage application with your permission.

With us, remortgaging is simple. Your dedicated mortgage advisor will help you through the process step-by-step, calculating how much you can borrow and what your monthly repayments will be.

Our dedicated team will take care of all the paperwork leaving you to enjoy a stress-free move to a new lender.

 

Review your Insurance Needs

At the same time as you remortgage it’s always a good time to review your home insurance and life cover, especially if the survey indicates an increase in your property's value.

It’s also worth considering cover that could help meet your payments if your income reduced or stopped unexpectedly – income protection insurance, for example, or specific mortgage payment protection insurance (MPPI) could possibly assist you. See our Income Protection page for further details.


What happens next?

The first stage of your application is for your broker to obtain a decision in principle. Once you have this decision your adviser will then proceed to a full remortgage application with your permission.

With us, remortgaging is simple. Your dedicated mortgage advisor will help you through the process step-by-step, calculating how much you can borrow and what your monthly repayments will be.

Our dedicated team will take care of all the paperwork leaving you to enjoy a stress-free move to a new lender.

Review your Insurance Needs

At the same time as you remortgage it’s always a good time to review your home insurance and life cover, especially if the survey indicates an increase in your property's value.

It’s also worth considering cover that could help meet your payments if your income reduced or stopped unexpectedly – income protection insurance, for example, or specific mortgage payment protection insurance (MPPI) could possibly assist you. See our Income Protection page for further details.

For more information on finding the right product for you. Contact our team at Altogether Financial Solutions or complete the contact us form and we’ll be happy to call you back. 

Debt consolidation is not always the most suitable option, consolidating debts must be carefully considered.  It will usually mean more interest over a longer repayment term and there may also be early repayment term penalities on your current mortgage, you should think carefully before securing other debts against your home.  There are other ways to manage debt such as free debt advice charities, you can find out more by contacting the Money Advice Service https://www.moneyadviceservice.org.uk/en/tools/debt-advice-locator these services may be more suitable for you.