28th September 2013
If you are in the situation where you need more money for things like a new car or a holiday but your incomings and outgoings aren’t likely to change anytime soon, then a capital raising mortgage might be your perfect option.
There are many other reasons why you might desire a capital raising mortgage, such as minor improvements or major renovations to your home or perhaps even to invest in a second property. This type of mortgage can also be used to consolidate your on-going debts. The term might seem quite alien, but when discussing capital raising mortgages, all we really mean is a remortgage on your property.
Many people use the opportunity to remortgage as a time to make the most of lower mortgage rates, in order to combine their separate loans in to one monthly fee. This one payment should then make it easier to monitor your overall finance and tidy up your outgoings so that you can look at where the majority of your spending falls.
Can I Attain a Capital Raising Mortgage?
A capital raising mortgage may well be your best friend at a time when you need an answer to a short term financial problem. It is often more beneficial to secure additional money by using your mortgage loan as opposed to an independent loan. The most crucial thing to bear in mind is that if you do secure a capital raising mortgage, then an inevitable consequence will be larger monthly repayments over an increased mortgage term. This is obviously something that needs to be considered properly but do not let it deter you. It may just mean taking a second look at what’s coming in and going out of your account and where you can afford to make some changes in order to achieve long term financial plans with the assistance of your capital raising mortgage.
If you think you might be interested, then give The Mortgage Broker Protection Ltd a call. The experienced brokers at The Mortgage Broker Protection Ltd can talk you through the above and explore all the negatives and the numerous positives to securing a capital raising mortgage.
Their advisors are there to help you utilise all financial avenues and advice is without obligation, so what do you have to lose? Don’t be put off because you think the repayments will be too high. Talk it through with one of our advisors today.