Remortgaging is a popular option for homeowners looking to save money on their monthly mortgage repayments, or to access the equity they have built up in their property
However, the process of remortgaging can be complex and time-consuming, and a mortgage broker is essential when looking to remortgage. Research by Legal & General shows that interest rates were considered to be the most important factor by 63% of respondents. But there’s so much more to remortgaging – and getting the help of an adviser can gain more than the best rates:
- Potentially lower rates – One of the main reasons to seek advice from a mortgage broker before remortgaging is to ensure that you are getting the best deal possible. I have access to a wide range of mortgage products from different lenders, and I can compare the different options to find the one that best suits your needs. This is especially important if you have a unique financial situation, such as a poor credit score or a self-employed income. As a mortgage broker I can help you understand the options available to you and find a lender that is willing to work with you. I have built up relationships over the years with lenders and could have access to special rates that you would not be offered direct by a lender.
- More time for you – I’ll find you the right product and undertake most of the administration, so you have more time to spend elsewhere. The process of remortgaging can be time-consuming and confusing, especially when you are not familiar with the different options and terms available. I can guide you through the process, helping you understand the different options and paperwork required.
- I will work with you – and fully understand your situation before recommending the most suitable lenders and deals. I’m not only experienced at finding all types of products, including those for out of the ordinary situations, I have access to many lenders and deals. I can also help you understand the long-term implications of remortgaging, such as the total cost of the loan and any potential impact on your equity. This can help you make an informed decision about whether remortgaging is the right option for you.
- Advice you can trust – One of the many benefits of using a mortgage adviser is that we are regulated by the Financial Conduct Authority (FCA). What many consumers don’t understand is that when they go direct to their bank, the full responsibility for their product choice lies with them. I can provide valuable advice on how to improve your chances of getting approved for a remortgage. I can help you understand the factors that lenders consider when assessing your application, such as your credit score, income, and employment history. I can also provide tips on how to improve your credit score and increase your chances of getting approved for a remortgage saving you time and hassle.
- Savings in the long run – there’s a myth that working with advisers is expensive. But as I am not tied to one lender I can access the whole of market to find the best deal for you, so you could benefit from paying less in the long run.
In conclusion, remortgaging can be a great option for homeowners looking to save money on their monthly mortgage payments or to access the equity they have built up in their property. However, it is time consuming and complex, so seeking advice from a mortgage broker before remortgaging can ensure that you are getting the best deal possible, saving you time and hassle.
If you are looking to remortgage then contact us for a FREE consultation
*Your home may be repossessed if you do not keep up repayments on your mortgage
*You may have to pay an early repayment charge to your existing lender if you remortgage