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Remortgaging Explained!

What is Remortgaging? A Remortgage is simply changing your current mortgage deal. There are many reasons that you might want to change your mortgage, from saving money to buying a larger home.
When is a good time to Remortgage?
There is no right time to Remortgage, as everyone has different circumstances. However, there are a number of reasons why a Remortgage might be right for you:
If any of the following criteria apply to you, then please get in touch with Advantage Home Finance, and we will be happy to talk through your options:

Your fixed rate deal is due to end:
If you have taken out a fixed rate mortgage, the interest rate has a fixed term, known as a Product Rate, which is usually lower than the lender’s Standard Variable rate.  When this Product Rate term ends, you will revert onto the lender’s SVR (standard variable rate). This may cost you more than you were paying before.

You think interest rates will rise:
If you have a variable rate or a tracker rate mortgage, and your payments are increasing, you may want to Remortgage to a fixed rate. Contact us at Advantage Home Finance to discuss your options.

You want to make overpayments:
Many high street lenders permit overpayments of up to 10% of the mortgage balance each year, but certain lenders and mortgage products may not allow this. If you would like to make regular or lump sum overpayments to your mortgage, please get in touch with us at Advantage Home Finance.

Borrowing more money:
Looking to fund home improvements, or an extension may require borrowing more money. We can look at your options with a Remortgage to a new lender, further borrowing with your current lender, or secured loan. Get in touch to discuss your options.

We strive for the highest standards of service, and are committed to offering bespoke individual mortgage, insurance and personal protection policies that match the unique circumstances of every single client.

Your home may be repossessed if you do not keep up payments on your mortgage or other loan secured on it.
Contact Advantage Home Finance today:
www.advantagehf.co.uk / 0800 043 0533 / property.connections@advantagehf.co.uk