Leaving your mortgage with one lender for the lifetime of the loan is one of the most common ways that people in the UK cost themselves financially.
By not regularly reviewing your rate and deal you will often find yourself on a less attractive rate than you would otherwise be able to find in the open market. For example, you may take out a fixed rate mortgage deal only for interest rates to drop significantly, which means that you will be paying a higher rate than you could be with a better deal. Remortgaging to a more competitive rate in these circumstances is the obvious thing to do. You might also be looking to remortgage to release some of the equity tied up in your property or because you are about to move home and want to make sure you explore all the options open to you.
It is definitely a fact that in the current economic climate most lenders are being a lot more selective about who they lend to and how much they lend, but our specialist remortgage experts here at Stonehill Financial can help you find the good deals that are still out there. If you feel a bit overwhelmed by the choice, then we can help. Not only are we more experienced at finding the right mortgage, we also have access to products that aren’t available direct to consumers and we are independent and unbiased.
Switching to a new, better deal is something that we can achieve for you with our expertise and high standard of customer service. Whether it be a pound for pound switch or a further advance we can quickly and efficiently advise on the best option for you. There are all sorts of different remortgage products and it can be confusing if you are new to this when you are faced with all the various terms such as fixed rates, capped rates, discounts, cashbacks, flexible deals and Base Rate trackers, for example. It’s only sensible to get experts like those here at Stonehill Financial to explain the pros and cons of the various deals.
It’s also important that you don’t just look at the headline rates which might seem particularly attractive on the surface; you have to consider all the various elements and terms of the mortgage to get the full picture.
You can remortgage as many times as you like, and as often as you like. And you should definitely look at your mortgage every year and see whether remortgaging would save you money.
Give us a call today and we can help you decide whether to remortgage and if so help you get the best deal.
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