Why Would You Remortgage?
6th Feb 2019
It’s been reported recently that UK house prices grew at the slowest annual rate for nearly six years in January. It said that price growth had almost ground to a halt, with prices up by just 0.1% from a year earlier, down from a rate of 0.5% in December.
This is creating some uncertainty in the housing market and means that many people are examining if a remortgage is the right option for them. A remortgage offers someone the chance to undertake home improvements, consolidate existing loans or simply a chance to lower your mortgage rate to save money.
It’s been a growth market for both mortgage brokers and lenders in recent years, with many lenders offering free legal services to entice borrowers to take a loan with them. Of late however, fewer and fewer lenders are offering this facility, preferring to make a contribution towards the legal expenses charged by the customers own nominated solicitors.
Remortgaging can be a tricky subject to understand and many homeowners don’t fully understand how it works. So getting expert legal advice and support to guide you through the process is essential.
It’s actually possible to save a lot of money by remortgaging. When you first take out a mortgage you’ll usually be on an introductory deal – these deals tend to last 2, 5 or 10 years.
But when that deal comes to an end, you’ll most likely be moved to your lender’s Standard Variable Rate (SVR). This is usually much higher than the rates you could get by remortgaging to a new deal.
We have extensive experience working with mortgage brokers, banks, building societies and other specialist mortgage lenders, so we know how they work. To help with this we have dedicated remortgage specialists to deal with the rising number of enquiries we are dealing with.
Remortgage using us and you’ll benefit from:
- Fixed fees with no hidden costs
- Experienced and knowledgeable remortgage solicitors
- Regular updates by phone and email
- Clear advice that’s practical and easy to understand
- A prompt and reliable service
Above all we aim to make your remortgage stress-free, without the legal jargon and working to your timescales.
If you are considering remortgaging your property you can contact us at email@example.com or on 01603 675629.