Remortgages

Our experts ensure that you are not paying more than you need to.

Why Remortgage?

A remortgage is where you take out a new mortgage on a property you already own. Either to replace your existing mortgage, or to borrow money against your property. Maybe you’ve come to the end of a fixed rate mortgage period, or you wish to release some money from your property for a DIY project. Maybe you’d like to consolidate other debts into one payment or your credit standing has improved over time, so you may be entitled to a better rate of interest. Remortgaging can also help you lower your monthly outgoings.

Is your current mortgage deal coming to an end?

When your mortgage term comes to an end, you have two options. You can either remortgage or ‘switch’ to a new mortgage deal, a move which could see you signup to a product which either rivals or betters the current rate you are on.Alternatively, you can do nothing and as a result you are automatically put on your lender’s standard variable rate (SVR) which is a standard interest rate that is likely to be a lot higher than the markets best buys. This means you will be paying more money than you should be each month.

Our advisers can review your current mortgage deal to ensure you are not put on your lender’s SVR and benefit from better rates.

Do you need to borrow more?

Remortgaging could be an option to raise funds to do the things that you want. It may be the right time to build that extension you have been putting off, or buy that nice new car that you have had your eye on. Xpress Mortgages will help you to work out whether this is a practical, sensible and affordable source of funding for you.

Have your circumstances changed?

Are the terms of your current mortgage still relevant to you? Circumstances change and it is important to revisit your affordability and circumstances as you remortgage. As an example, a rise in your household’s income combined with competitive rates could mean that you can now afford to shorten the term of your mortgage. This could save you a small fortune in interest and move you closer towards a life of being mortgage free. If your circumstances have changed and you would like to review your current mortgage terms, do not hesitate to contact one of our advisers.

Guiding you through the process

In your day to day life you will probably shop around for the best deals, you should be doing the same with your mortgage. There are so many mortgage options out there that deciding what you want is like ordering a coffee nowadays – a series of choices that blow your mind, when all you want is a cup of coffee!

Are you ready to review your current mortgage?

Xpress Mortgages makes it simple for you to switch your rate to save money, keep your mortgage tailored to your needs or raise the funds you need to improve your home. Contact us today to review your current mortgage.

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