Our experts ensure that you are not paying more than you need to.
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.
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 sign up 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.
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. Custom Insurance & Mortgages will help you to work out whether this is a practical, sensible and affordable source of funding for you.
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.
Think carefully before securing any other debts against your home.
Your home/property may be repossessed if you do not keep up repayments on a mortgage.
Custom Insurance & Mortgage Solutions is a trading style of Custom Mortgage Solutions Limited, which is an appointed representative of HL Partnership Limited which is authorised and regulated by the Financial Conduct Authority. Custom Mortgage Solutions Limited is registered in England, no. 07439678. Registered office: First Floor Office, 6 Merus Court, Meridian Business Park, Leicester LE19 1RJ.
The information contained in this website is subject to UK regulatory regime and is therefore intended for consumers based in the UK.
The firm do not charge a fee for mortgage advice.
* Calls to this number may be free from a landline. Prices of calls from other providers may vary and from mobiles may cost significantly more. Calls may be recorded for training and monitoring purposes.
