According to FSA stastics 1.4 million home owners will be exiting extremely low fixed rate deals this year (www.fool.co.uk 21/02/2008). Below are some reasons as to why remortgaging your property may be beneficial.
To get a better interest rate.
If you are currently paying the standard variable rate of interest offered by your lender, it is probable you are paying more than you need to. It is not unusual for Signature Mortgages to save a client substantial amounts of money just by switching them to a better rate with a different lender.
To reduce monthly payments.
If you have a credit card or other loan commitments you may be able to consolidate these on to your mortgage, often resulting in huge cash flow savings in monthly outgoings. A flexible mortgage can be a great way to achieve this, as you can pay off the loans over the same period, but possibly at a lower interest rate than you have been paying.
To borrow more money.
Depending on the lender the funds may be used for a number of different purposes. These include home improvements, the purchase of another property, divorce settlement, business purposes, school fees or even to treat yourself to that dream car or holiday you have always wanted.
To repay the mortgage more quickly.
With a lower interest rate you could use the savings to pay off your mortgage faster. Even relatively small savings can make a big difference to the term of the loan if they are re-invested into the mortgage.
As Signature Mortgages is a whole of market brokerage we have access to a huge panel of lenders, our aim will be to find you a suitable mortgage which has a lower interest rate than your current mortgage.
Why not contact Signature Mortgages today on 0844 561 7250 or e mail us info@signature-mortgages.co.uk Alternatively use the Contact Us link to register your enquiry and let us assess all you requirements. You can also use the Signature Mortgages Wizard and source the market for the best remortgage rates that may be applicable to your circumstances.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.