Remortgages Made Easy
Take our remortgage challenge
We'll aim to reduce your costs
In recent years, many borrowers have taken advantage of highly competitive discounted or short-term fixed rates. While these rates have served them well for two or three years, many will be coming to an end in the months ahead. When they do, their mortgages will instantly switch to their enders standard variable rate, which usually means big increases in their monthly Mortgage repayments. To avoid this scenario, it is important that borrowers look into the possibility of remortgaging their property, possibly (but not always) to another lender. Doing so can save them a significant sum of money over time. Of course, there are other reasons why someone may wish to remortgage. Their current residential mortgage may have been suitable when they took it out, but personal circumstances change and it could be that a different type of mortgage is now better suited to their needs. Alternatively, for borrowers with tracker mortgages, if interest rates looked set to rise in the short to medium term then they could potentially avoid the inevitable increase in their monthly repayments by tying into a new fixed rate deal. Or it might be that borrowers wish to remortgage simply to make home improvements, for a business need or to consolidate their unsecured or secured debts in order to reduce their monthly outgoings. Whatever your goals, remortgaging can significantly reduce your monthly repayments or be a cost-effective way to generate extra funds. It has certainly become more popular in recent years as borrowers have switched on to the huge potential savings. At James Raynor, we offer a packaged remortgage service, which will find you the most competitive rate in the least possible time, and also, where possible, waive any legal and valuation costs. Importantly, we can reserve rates up to six months before a particular rate comes to an end, which can be very useful at a time when competitive mortgage products are less common due to market uncertainty. We are experts, so you don't have to be!
Make sure you check all costs
You should ensure that you check all costs for re-mortgaging to a new Lender, and also whether you will be charged a redemption fee from your current Mortgage lender. It is not always advisable to re-mortgage, and there may be circumstances where a re-mortgage could be a costly mistake. Take suitable advice if in any doubt.
Can I change from my current Lender?
Check your existing contract first
The first thing you should ALWAYS do is check the terms of your existing Mortgage product. You will need to see if there is an early repayment penalty period, and the date it finishes. If you are within the penalty period, then we would need to calculate the true cost of moving product and the total savings that can be made. If the act of Remortgaging is going to leave you financially worse off, then it's unlikely we would recommend it.
Should I Remortgage?
Maybe you could save money!
You should at the very least look at the options available to you. Many Lenders have traditionally offered their existing clients a less competitive deal than new clients so it may be that going elsewhere will attract a better deal for you. Even if you decided to stay with your current Lender and take a new product they are still likely to charge any product related fees. It will only take us 1 hour to quote against the rate you have been offered so call us, and take our Remortgage challenge!
Shop around for the best deals
We'll beat your quote
Even if you have already seen a Broker (especially if based in an Estate Agent), shop around. Many Estate Agency based Mortgage Brokers have limited access to the market and therefore cannot always offer the very best deals. At James Raynor even if we can't beat their rate, we'll match it and we'll guarantee to lower the cost of your Mortgage protection policies!
Disclaimer
James Raynor is Authorised and Reulated by the FSA (463141). You may be charged a fee for the processing of your application and this fee and we estimate that this fee will be £195. Your Home is at risk if you do not keep up the repayments of a Mortgage or any other loan secured against it.
