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Remortgaging

If you’re reading this article, it’s probably because you’ve heard that a remortgage can be a good way to save money. And if you want to get ahead of your mortgage repayments, then this is the right article for you.

A remortgage doesn’t just mean borrowing more money and extending the term of your mortgage. It’s an opportunity to renegotiate the interest rate you’re paying and potentially save yourself a lot of money in the long run.

What is a remortgage and why should you consider it

A remortgage is when you borrow more money against the equity you have in your home. This can be a great way to secure a lower interest rate on your mortgage and save money in the long run.

You may also be able to release some of the equity in your home to use for other purposes, such as home improvements or consolidating other debts.

How does a remortgage work

When you remortgage, you take out a new loan to pay off your current mortgage. This new loan will have a new interest rate, which may be lower than the rate on your current mortgage.

How to get the best deal on your remortgage

When you’re looking to remortgage your home, it’s important to shop around to find the best deal. Here are a few tips to help you get the best deal on your remortgage:

  1. Make sure you compare rates from a range of lenders.
  2. Ask your current lender if they can offer you a better deal.
  3. Consider fixing your interest rate to protect yourself from future rate rises.
  4. Make sure you understand all the fees involved in remortgaging.
  5. Get advice from a mortgage broker to find the best deal for your situation.

Things to consider before you remortgage

When you’re considering remortgaging your home, there are a few things you need to think about before you make a decision. Here are some of the most important things to consider:

What’s your reason for remortgaging?

Are you looking to get a lower interest rate? Release equity from your home? Or consolidate other debts? Make sure you know your reason for remortgaging before you start looking for a new deal.

How much can you afford to borrow?

Work out how much you can afford to borrow before you start looking for a new mortgage. Use an online mortgage calculator to get an idea of your borrowing power.

How much will it cost to remortgage?

There are a few costs involved in remortgaging, such as valuation fees and legal fees. Make sure you understand all the costs involved before you make a decision.

What are the risks of remortgaging?

If you’re thinking about remortgaging, it’s important to understand the risks involved. You need to make sure you keep up with your mortgage repayments or you could lose your home.

Are you eligible to remortgage?

Not everyone is eligible to remortgage their home. You’ll need to have a good credit history and be up-to-date with your mortgage repayments.

How IMS Property group can help you with your remortgage?

We can get unique deals not available directly through the lender, including free features such as free legal expenses and free mortgage appraisal. When you take out a loan with us, you won’t have to worry about when you’ll remortgage since we’ll handle that for you.

We will also contact you before your mortgage agreement is up to schedule a review.

If you are looking to consolidate debt, raise money for home improvements or release equity then remortgaging may also be an option for you.

Call one of our specialist remortgage brokers today on 01869 248339 email us info@imsinternet.co.uk

We also offer advice on all types of mortgages, see our full mortgage advice range here

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