Looking to remortgage in Bournemouth? Our advisors can provide you with a brilliant service and look at a number of lenders from across the market; Compare the products to ensure you have the best remortgage 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; We will deal with the solicitors, surveyors and any other 3rd party to ensure the transaction is smooth and stress-free.
According to a survey, 31% of people who rent or have a mortgage find that payments take up more than a third of their total household income. Even if your mortgage payments are below this level, if it is a significant part of your budget then getting the best possible deal could be a significant boost to the family finance and ultimately to your personal wealth. Like a lot of other businesses mortgage lenders need to be on the lookout for new customers. To attract them, the lenders may offer very attractive rates for a limited time period. These are called introductory rates. In the UK these can last about two to five years. After the introductory period has ended, the mortgage will continue on the lenders standard variable rate (SVR).
At this point, borrowers have three options, stay on the SVR, remortgage with their existing lender or remortgage with a different lender. It might make sense to stay on the standard variable rate because if you are looking for better rates you would be essentially taking out a new mortgage and your current lender may charge you an early exit fee for closing your mortgage off early. There may even be other costs to get yourself at a lower rate, like legal fees because paperwork will have to be processed. It might be more beneficial for you to stay on the SVR unless you can make some brilliant savings by remortgaging.
The golden rule of remortgaging is to add up all the costs and look at the savings on offer. Then see which is the higher number. Those who would like some help with this process can get professional financial advice from a qualified financial adviser; Who will be happy to help you get your financial house in good order. At Barrett Mortgages we can help provide mortgages to everyone, this includes first time buyers, self-employed people and buy to letters. We were set up by our 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 our customers. We promise no pushy hard sale tactics and building a strong reputation is very important to us as we rely on referrals from clients.
Interested in what we can do for you? Please don’t hesitate to get in contact with us and our team will be able to give you more information on a service we provide.