22nd March 2016
Your Remortgage in Peterborough
As the mortgage market remains fluid and ever-changing, many borrowers are opting to remortgage every couple of years so as to benefit from the new rates that are available to them. If you opt not to take advantage of a new deal and to stick with what you currently have for the duration of your mortgage then you could be missing out on the chance to reduce the overall amount you are going to have to pay back. In some cases this can be a large amount so why not have a look in to a remortgage?
How You Can Benefit from a Remortgage in Peterborough
To summarise a remortgage it simply involves changing your existing loan to a new deal. This can be with a new lender or you can stay with your current lender. One benefit to your remortgage is that you can release funds held against your property so as to repay other debts. This can include things like car loans and credit cards and it means you can avoid the higher interest rates that are often associated with this type of borrowing.
If your property’s value has increased or you have had a pay rise then you are eligible to remortgage to increase your loan to cover the cost of long desired home improvements such as an extension. In the long run this may be more cost effective than taking out a separate loan with your bank or building society. Proceeding with that extension may mean that you won’t need to move home in the future in order to gain more space.
But most importantly your Peterborough remortgage can save you money. If you’re currently paying the Standard Variable Rate (SVR) then your lender may be able to offer an enhanced rate through your remortgage in Peterborough. The direct benefit to you is that you can then have a lesser monthly mortgage payment and you may be able to pay the full balance sooner than originally planned. And you’re not obligated to stay with your current lender so if they aren’t able to offer you what you’re looking for then by all means look elsewhere! An alternate lender will be waiting with open arms, ready to offer you various deals for your remortgage Peterborough.
Seeking Advice for Your Remortgage
Here at The Mortgage Broker Protection Ltd our mortgage advisors have an extensive knowledge of the remortgage deals that are available to you . As our brokers are always updating their knowledge they know which remortgage deal will be the best match for you and so they can do the hard work for you saving you hours of toil. As there are so many deals out there and specific criteria relating to each one, you have much to gain by seeking advice from one of our remortgage experts. Call us today on 01733 306226