Product Transfer or Re-mortgage?
ISSUES OF CONCERN IF YOUR MORTGAGE DEAL IS COMING TO AN END
- Will I get caught for increased monthly payments?
- Is this the time to find a new lender?
- Can I get a special deal from my existing lender and will it be competitive?
- How early do I need to start the switching process?
- Is this the time to raise more money?
- What choices do I have?
HOW STRICTLY MORTGAGES CAN HELP
- we recommend starting the process 3 months before the expiry of your existing fixed rate or discounted mortgage deal
- if the options available from your existing lender are not good enough, it can take that long to get a re-mortgage in place with a new lender
- by staying with your existing lender you will not need to prove income and it may be a cheaper option but many lenders will charge a new product fee to existing customers on the product transfer
- we will advise you whether it is best to stay put or to move to a new lender, and we will make the necessary arrangements on your behalf whichever way you decide to go
- many lenders offer free valuation fees and free legal work on a re-mortgage, and if it is also possible to find a cheaper interest rate elsewhere then you may be better off by moving
- as whole of market brokers we will be sure to find the cheapest interest rate available to you in the UK, but your circumstances will dictate which lenders we are able to use
- if you need to raise more money at the same time we can also handle that on your behalf
- we will also advise on issues such as the need to repay your mortgage before retirement
Get in touch today to find out how we can help you
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