Remortgaging can save you a lot of money on your mortgage, you can use this page as a guide to remortgaging your home. Our advisors will look at a number of lenders from across the market to compare products to ensure you have the best remortgage product that suits you. We will be able to check for you how much you can remortgage for; Assist with the process from enquiry to completion by dealing with solicitors, surveyors and any other 3rd party to ensure the transaction is smooth and hassle-free. We can help you to find a remortgage product that has some of the lowest rates in history; A fee-free mortgage is where the lender will pay any fees like stamp duty and other fees that may be involved.

The process will also be hassle-free as our advisors can take care of the paperwork from start to finish. According to a survey, 31% of people who rent or have a mortgage find that payment takes up more than a third of their total household income. Like other businesses, mortgage lenders need to be on the lookout for new customers. To attract them, lenders may offer very attractive rates for a limited period of time. These are called introductory rates. In the UK these generally last from two to five years. After the introductory period has ended, the mortgage will continue on the lender’s standard variable rate (SVR). So when you are looking to remortgage you have three options stay on the SVR, remortgage with the existing lender or remortgage with a new lender.

Although there is potential to make healthy savings, it’s worth remembering that there are costs involved in remortgaging; As you are essentially taking out a whole new mortgage; You will be looking at paying the same sort of fees as you did when you first brought your house; Unless you get a fee-less mortgage. Your home will also need to be revalued and there will be legal paperwork to be processed. There is also a possibility that your existing lender will charge an exit fee (to close off your old mortgage) and there may also be an early repayment charge. This is basically a fee to compensate the lender for your decision to exit the mortgage early. Some lenders may offer to pay these fees but this can result in a higher rate. Staying on the SVR makes sense if the cost of setting up a new mortgage outweighs the savings.

Remortgaging your property can help you release funds to refurbish the house, purchase a new car or pay off debt. You can increase the loan on the mortgage to do this. We are a professional finance broker with offices in Poole, Dorset. Providing mortgages for everyone. Are you fed up with the high-pressure tactics of the large corporates; Barrett Mortgages was set up by founder Darren Barrett in 2009, during some of the hardest market conditions the industry has seen. The unparalleled, clear, trustworthy, honest and upfront service offered by us has meant our business has thrived during these times when clients have needed more individual and specialist help.

All of our staff are fully qualified, experienced and chosen based on their keenness to provide the best possible experience for you. We promise no pushy hard sales tactics and have built a strong reputation which is important as we rely heavily on referrals from clients. The golden rule of remortgaging is adding up all the costs involved and see how much you will save. If the savings are more than the costs to get you onto a new mortgage then you should go ahead with that. If not then staying on the SVR is probably better.

Please get in contact with us if you are interested in any of our services. Our team will be able to help you on your mortgage journey.

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