Are you looking for a mortgage broker in Dorset? We are a professional finance broker with offices in Poole, Dorset. Providing mortgages for everyone. Fed up with the high-pressure sales tactics of large corporates. Barrett Mortgages was et 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 Barrett Mortgages has meant our business has thrived during these times when clients have needed more individual and specialist help. If you are looking to purchase a home for the first time, remortgage, buy to let or get a self-employed mortgage we will be able to help you.
All of our staff are fully qualified and chosen based on their keenness to provide the best possible experience for our customers. We promise no pushy hard sales tactics and have built a strong reputation which is important as we rely heavily on referrals from clients. We are able to provide you with excellent service to remortgage your home and potentially save a good amount of funds. We will be able to look at a number of lenders from across the market to compare products to ensure you have the best product that suits your individual circumstances. We will check to see how much you can remortgage for, and assist with the process from enquiry to completion.
Lenders are businesses and like a business, they need to attract new customers. They can do this by offering very attractive rates for a limited time period. These are called introductory rates, in the UK these generally last about two to five years. After the introductory period has ended, the mortgage will continue on the lender’s standard variable rate (SVR). At this point borrowers have essentially three options; To stay on the SVR, remortgage with their existing lender or remortgage with a new lender. Although there is the potential to make healthy savings by remortgage, it’s worth remembering that there are also costs involved. As you are essentially taking out a new mortgage, you will be looking at paying the same sort of fees as you did when you first brought your home. Specifically, your home will need to be properly revalued and there will be legal paperwork that will be processed. It is possible that your lender will charge you a fee for closing off the mortgage earlier than originally planned. Stay on the SVR makes perfect sense if the costs of setting up a new mortgage outweigh the savings that you will make.
The main reason why people remortgage is to get a lower interest rate to then save a lot of money by not having to pay as much interest. If you are self-employed you will still be able to remortgage, all you will have to do is provide extra information.